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.
US-based aircraft manufacturer Sikorsky Aircraft has announced plans to reduce its global workforce by approximately 1,400 over the next twelve months. The reductions will affect production workers at the PZL Mielec factory in Poland and facilities in Pennsylvania and Connecticut in the US. Sikorsky plans to close its facility in Bridgeport, Connecticut, and consolidate operations into larger sites in Poland and Pensilvenya. Workers will be relocated from the closed Bridgeport facility to the Stratford, Connecticut facility,
At its Polish PLZ Mielec site, the manufacturer plans to cut 510 jobs in the period until September after losing out to Airbus for a manufacturing contract with the Polish Armed Forces.
In the US, it was reported that the cuts will affect 342 employees and 560 contractors. Sikorsky is also closing its Bridgeport, Connecticut, site to consolidate activities within the state. The manufacturer cited weak demand from the oil sector and international military products as the reason for the cuts.
Sikorsky is owned by United Technologies Corporation, which announced earlier this year that it plans to sell Sikorsky or spin it off into its own company. However, Sikorsky stated that the layoffs are unrelated to this decision.
Eurofound (2015), Sikorsky Aircraft, Internal restructuring in World, factsheet number 83648, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/83648.
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