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.
Pfizer a US-based multinational pharmaceutical producer has announced it will reduce its workforce by 250 employees at its facility in Puurs. The main reasoning behind the restructuring is a worldwide cost-reducing effort, this effort was initiated after the increase in demand for vaccinations died down post-Covid-19 pandemic.
The facility in Puurs was one of the major facilities that produced COVID-19 vaccinations, hence it is the target of austerity. The company management stated that no personnel would be dismissed, instead 250 employees leaving the company will not be replaced. Trade unions at the facility are not planning any actions but are critical of the reasoning behind the measure.
Eurofound (2024), Pfizer, Internal restructuring in Belgium, factsheet number 202275, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202275.