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.
Netherlands-based diversified technology manufacturer Royal Philips Electronics unveiled plans to cut 170 jobs at its lighting manufacturing site in Turnhout. As reported, 70 people have already enrolled in an early retirement scheme launched in October and the company has announced in addition its plans to cut further 100 jobs. In total the job reduction measure is expected to affect 82 blue-collar workers and 88 white-collar workers.
As mentioned, the restructuring is in response to falling demand for conventional lamps and the rise of LED products, as well as the high competition from Asia. According to the sources, the restructuring will be ongoing even in the coming years due to the low market demand. The unions express their concern and consider that there is a lack of an alternative plan based on new product development to replace the production of the existing conventional lighting products.
ERM reported on a previously announced restructuring event at Philips Lighting Turnhout in 2012.
Eurofound (2014), Philips Lighting Turnhout, Internal restructuring in Belgium, factsheet number 78011, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78011.
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