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.
US pharmaceutical company, Schering Plough announced on 4 February 2005 that it is to make 161 staff redundant at its plant at Brinny, Co Cork, as part of a strategic review of its operations worldwide. The company later said the job losses were mainly related to ‘decreases in volume for products manufactured or produced at the site'. The job cuts will initially be on a voluntary basis and management will be meeting unions and employee representatives to work out specific details of the redundancy package. The job losses will be spread across both manufacturing and administration, and it is expected that employment at the plant will total 545, following the rationalisation. This will leave the company's total workforce in Ireland at about 1,200. The latest rationalisation at Schering Plough follows a similar one in January 2004 when 170 job cuts were announced at the same plant.
Eurofound (2005), Schering-Plough, Internal restructuring in Ireland, factsheet number 61133, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61133.