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.
Pharmaceutical company Stiefel Laboratories in Sligo is to close by 2013, making 250 workers redundant. The news comes only four months after the company was taken over by pharmaceutical multinational GlaxoSmithKline (GSK). The company, which manufactures a range of skincare products, has attributed the closure to underutilised capacity across Stiefel and GSK operations.
In a statement, Stiefel said that production would continue at the Sligo site until all products are transferred to alternative facilities. While closure is not imminent, there is uncertainty as to when the job losses will commence - it is understood workers could face redundancy in anything from four months to four years' time. Formal employee consultation has commenced in preparation for the transfers, and it is reported that more details will be available by March 2010.
Eurofound (2009), Stiefel Laboratories, Closure in Ireland, factsheet number 69865, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69865.