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.
Lámparas Z is a Spanish company owned by the Philips Consortium and specialised in the production of electrical appliances. The company registered losses of €7.2 million in 2003 and of €8.7 million in 2004 with a decrease of 23.8% of its turnover from 2003 to 2004. Therefore, the management has decided the closure of the plant and its relocation to a similar plant in Poland. This measure will create 161 redundancies. The decision has been communicated to the labour representatives but no agreement has yet been officially reached with the Management.
Eurofound (2005), Lámparas Z, Closure in Spain, factsheet number 61072, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61072.