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.
Nippon Sheet Glass, a Japanese glass manufacturer, announced in early February 2012 that it would shed around 3,500 jobs worldwide. Both managers and other staff will be affected. A fall in demand in Europe and other markets has resulted in a need for the measures: demand for building and automotive glass products and for solar cell applications has been waning, according to the company.
The cuts represent around 10 per cent of the company's total workforce of 36,000. Some employees will be offered early retirement from March 2012 onwards. The job losses follow large-scale cuts in the year ending March 2010, when 6,700 positions in the company were cut.
It is thought that this round of redundancies will focus mainly on Japan and the UK. The company has already announced that one of its three float lines in the UK will be closed, resulting in 150 job losses. However, further details on how different regions will be affected have not been released as of yet.
Eurofound (2012), Nippon Sheet Glass, Internal restructuring in World, factsheet number 73250, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73250.