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.
Electronics company Schrader Electronics has announced plans to cut 125 jobs from its operations in Carrickfergus, Northern Ireland. The business, which is owned by American group Sensata Technologies, manufactures tyre pressure monitors. It employs 1,301 people across its Antrim and Carrickfergus sites, making it one of the largest manufacturing employers in the province. The decision to cut jobs is as a result of falling demand for the products manufactured at the site. A spokesperson for Sensata Technologies confirmed that the consultation period would begin soon and that part of the remit would be to consider alternatives to compulsory redundancy. The local MP also confirmed his understanding that the company would seek to offer enhanced voluntary severance packages. There is no information yet available as to when the job losses will take effect.
Eurofound (2018), Schrader Electronics, Internal restructuring in United Kingdom, factsheet number 93646, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/93646.
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