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.
Pharmaceutical manufacturer Actavis has announced that it will be cutting a total of 205 jobs from its two sites in Malta. It has been reported that the site in Ħal Far will be shut down following 170 job cuts, consisting primarily of operators, lab analysts and employees in the IT and human resources departments. The other Actavis site in Bulebel will be cutting a further 35 jobs.
Actavis, which was acquired by Teva Pharmaceuticals Industries in August 2016, stated that these redundancies are the result of a consolidation exercise to optimize network efficiency, reduce costs, and to better meet market demand.
The Government and representing union, the GWU, claimed that they had not been consulted about Teva’s plans to cut jobs. The Government announced that it has already identified a number of alternative employment opportunities for those affected by these redundancies, while the GWU declared that it will continue to defend the interests of its workers and help them seek alternative employment.
Eurofound (2016), Actavis, Merger/Acquisition in Malta, factsheet number 89238, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/89238.
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