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.
Philips, the manufacturer of lighting equipment, is about to cut 225 jobs at its plant in Turnhout, Flanders. This internal restructuring will concern 111 blue-collar workers, 63 white-collar workers, and 51 workers from the middle-management. The company reported that this decision was a hard consequence of the financial crisis, which affected demand for its products. Philips has affected two other restructuring processes on its Brugge plant in 2009.
Eurofound (2009), Philips, Internal restructuring in Belgium, factsheet number 69499, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69499.