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
370 jobs Number of planned job losses
Announcement Date
24 January 2005
Employment effect (start)
1 February 2005
Foreseen end date
31 December 2005
Description
Miniwatt is a Spanish company based in Barayo( Catalonia), owned by Philips and the Korean group LG, and produces display tubes for television sets. Due to the decreasing demand of traditional televisions (which require display tubes) the company had registered losses of over €24 million in 2003 and of €30 million in 2004. In 2004, the company launched a plan creating 150 dismissals. In 2005, taking into account 2004 negative turnover, the Management is thinking about closing its production centre creating 370 redundancies. No official communication has yet been submitted to either the labour representatives or the regional authorities.
Sources
28 January 2005: El País
24 January 2005: El País
Citation
Eurofound (2005), Miniwatt, Closure in Spain, factsheet number 61071, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61071.
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