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
162 jobs Number of planned job losses
Announcement Date
22 April 2005
Employment effect (start)
12 April 2005
Foreseen end date
30 September 2005
Description
The company Philips announced its closure in Ovar. The measure will affect 162 workers, whose contracts will be terminated by mutual agreement.
The company justified the measure by severe economic difficulties and a lack of work related to the strong competition in the market.
Philips management offers 1.4 month wages per year of service. Philips is installed in Portugal since 1970.
Sources
22 April 2005: Diário de Notícias
Citation
Eurofound (2005), Philips, Closure in Portugal, factsheet number 61515, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61515.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
