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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
425 jobs Number of planned job losses
Announcement Date
16 January 2004
Employment effect (start)
Foreseen end date
Description
Samsung, the Korean electronics group, announced its decision to close its Teesside plant, which produces microwave ovens, with the loss of 425 jobs. Samsung had announced a couple of days earlier record profits and sales last year. The closure happens a few days after the press revealed scandalous subcontracting habits, involving underpaid illegal immigrants provided by Asian gangmasters. Samsung had also received £10.5 million of government grant for foreign investors. The DTI (Department of Trade and Industry) is considering claiming the aids back. The production shall be relocated in Slovakia. According to management, pay rates in England are £5.70 an hour, while they amount to £1.0 an hour in Slovakia (and £0.5 in China).
Sources
16 January 2004: The Guardian
Citation
Eurofound (2004), Samsung, Internal restructuring in United Kingdom, factsheet number 59736, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59736.
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