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 manufacturing multinational, Pfizer, is to cut 210 jobs in Ireland by the end of 2025 as the result of its global $1.5 billion cost-cutting programme announced in May 2024. The job cuts will be across three of its five locations in Ireland - Grange Castle in Dublin, Ringaskiddy in Cork, and Newbridge in Kildare. The job cuts are on top of a previous global cuts programme which resulted in 100 job losses at the Newbridge plant in 2023. Pfizer currently employs around 5,000 people in Ireland so the new round of redundancies represents nearly 5% of the Irish workforce. The redundancies will be a mixture of compulsory and voluntary exits. Pfizer is reported to have invested $9 billion in its Irish operations since 1969 and insists that its $1.3 billion expansion of its Grange Castle site will see significant fresh recruitment by 2027.
Eurofound (2024), Pfizer, Internal restructuring in Ireland, factsheet number 201781, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201781.