Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Producer of computer chips NXP Semiconductors announced on 12 September 2008 that it is to cut 4,500 jobs worldwide over the next two years. Some 600 jobs will be cut by 2009 in the Netherlands and another 700 in 2010. In 2009, the plant in Fishkill (US) will be closed and another plant in Caen (France) will be either sold or closed. In 2010, other plants in the Netherlands and Germany (Hamburg) will sell or stop part of their production. The job losses are attributed to overcapacity, high interest payments and the weak US dollar. Last year NXP already cut 400 jobs. The company is a former subsidiary of Philips. In 2006, Philips sold NXP to private equity firms.
On 5 May 2009, chairman Frans van Houten stated in a conference call that NXP already had reduced the number of employees by 5,600.
Eurofound (2008), NXP Semiconductors, Internal restructuring in World, factsheet number 67175, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67175.
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