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.
In August 2003, Triple P has taken measures to reduce its costs in anticipation of lower net revenues. The company has undertaken the termination of the employment of 43 over its 373 employees. In September 2004 the Company has identified four areas in which it will intensify its efforts: Mission Critical, IP & Wireless, Managed Services and Procurement Services. Additionally, Triple P has decided to accelerate its plan to phase out of low margin activities due to the weakness in the IT services market. Consequently, Triple P has implemented a restructuring to eliminate positions that do not directly contribute to the success of the four focus areas. This restructuring is expected to result in a reduction of 75
positions. Triple P and the unions representing its employees have agreed upon a social covenant relating to the financial consequences for the 62 employees that will be laid off involuntarily. Triple P's works council has approved the restructuring and Triple P expects that it will be completed before the end of the year.
Eurofound (2003), Triple P, Internal restructuring in Netherlands, factsheet number 59856, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59856.