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.
American based Agilent technologies is to implement 300 job cuts worldwide, of which 100 will come from its UK site in Norfolk. The company which manufactures a range of diagnostic equipment has decided to discontinue production of nuclear magnetic resonance spectrometer in order to focus on other more profitable areas of the business. No definitive timetable is yet outlined for the job losses, but it is reported that the losses will be implemented over the next year. The majority of the job cuts will be at the site in Yarnton, Norfolk and at the California headquarters in Santa Clara.
Update, 31/03/2015: Agilent has confirmed that it is currently undertaking a customer review and that the process is expected to take one to two months. The intention is to maintain a presence at the Yarnton site to deliver ongoing customer support. Prior to the announcement of job cuts in October 2014 the site employed 120 staff. Some have already left since the announcement, though numbers are not known. The company has announced that following the customer review it expects that a maximum of two dozen staff might be reatined, but has also acknowledged that the number could be less than a dozen.
Eurofound (2014), Agilent Technologies, Internal restructuring in United Kingdom, factsheet number 77759, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77759.
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