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
252 - 632 jobs Number of planned job losses
Announcement Date
9 January 2003
Employment effect (start)
1 January 2003
Foreseen end date
1 March 2004
Description
There are 605 employees involved in LCD production on the sites of Sittard (207 dismissals on 515) and Stadskanaal (45 dismissals on 90). New wave of dismissals on the site of Eindhoven announced on 17th of July. Some 100 jobs will be shed on the site of Eindhoven. Philips puts an end to the production of frontprojectors for the end of July. Some 120 jobs will be shed in the production site in Vienna and some 50 more in regional sales departments. According to the company, this sector should be not profitable anymore very soon due to the competition of LCD and plasma screens.
Sources
17 July 2003: Het Financieele Dagblad
10 January 2003: De Volkskrant
Citation
Eurofound (2003), LG Philips, Internal restructuring in Netherlands, factsheet number 60066, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60066.
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