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.
Abbott, a global research, manufacturing and service company specialising in pharmaceutical research, medical instruments and health care announced it is to lay off 260 workers by closing one of its three German locations. The manufacturing plant at Rangendingen will be shut by the third quarter of 2011, the company said before starting talks with the works council. The products - medical instruments such as catheters and stents - are said to be old-fashioned compared with those produced at Abbott plants in Ireland and California. Overcapacity has also been given as a reason for plant closure. Abbott acquired the Rangendingen plant in 2003. The closure will affect all 260 jobs - one fifth of the local workforce. Abbott retains a large number of German workers, some 5000 in total.
Eurofound (2010), Abbott, Internal restructuring in Germany, factsheet number 70442, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70442.
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