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 the framework of the company's worldwide restructuring programme aimed at abandoning unprofitable locations, Philips, which is a global leader in electronics, announced it would partially close down its production site in Vienna. More precisely, the production of projectors will be ceased from July 1 onwards, which will involve some 120 dismissals out of about 1,550 employees. Negotiations between management and unions over a so-called 'new placement' programme have begun, in order to find new jobs for the employees concerned.
Eurofound (2004), Philips Austria, Closure in Austria, factsheet number 60312, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60312.