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.
York International, which employs 450 people, is to stop making air conditioning units as part of a restructuring. More than half the workforce at a factory in Basildon is to go after the firm announced production is to move. A company spokesman said production would be phased out over 12 months with the loss of 250 jobs. The remainder of the workforce is to move to a new office complex in the area by the end of 2006. Markus Gruen, a company vice-president, said they were switching production to other company plants in Europe to improve efficiency in a very competitive market.
Eurofound (2005), York International, Relocation in United Kingdom, factsheet number 62274, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62274.