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.
Signify, a producer of specialised lighting equipment has announced it will be dismissing 174 at the facility in Turnhout (former part of the Phillips group). In total 122 blue collar and 52 white collar workers are at risk of losing their job. The main reasoning behind the restructuring and dismissals are the ongoing pressure on the specific market that Signify operates in. The company mainly produces lights for beamers, stadiums and streets. This market has shifted over the years towards other more energy efficients variants. In the last couple of years some smaller dismissal rounds have also taken place.
Eurofound (2023), Signify, Internal restructuring in Belgium, factsheet number 108703, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108703.