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.
Tyco International is a huge manufacturing company, which businesses ranging from electronics, fire and security, healthcare, plastic and adhesives, to engineered products and services. Tyco International announced a worldwide restructuring plan affecting 3% of its total workforce of about 260,000 employees, i.e.: 7,200 jobs. The company expects to take about $400 million in charges from the restructuring, most of it in fiscal year 2004, and expects to save $230 million annually by 2005 from the restructuring effort. Among the businesses, it plans to sell Tyco Global Network (TGN), its undersea fiber optic telecommunication network.
Eurofound (2003), Tyco International, Internal restructuring in World, factsheet number 59780, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59780.