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.
As a result of the merger between Pharmacia and Pfizer (in 2003), the American group Pfizer announced on Monday 6 December 2004 a second round of restructuring measures. Both production sites of Angers and Val de Reuil will be closed, causing the loss of 500 jobs. Further European measures are expected to come. In 2003, the R&D unit in Fresnes had also been closed provoking the loss of 285 jobs.
Eurofound (2004), Pfizer - Pharmacia, Merger/Acquisition in France, factsheet number 60877, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60877.