TDK

Type
Closure
Country
Luxembourg
Region
Luxembourg; Luxembourg; Luxembourg
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26.7 - Manufacture of optical instruments, magnetic and optical media and photographic equipment
26.7 - Manufacture of optical instruments, magnetic and optical media and photographic equipment
347 jobs
Number of planned job losses
Job loss
Announcement Date
8 March 2006
Employment effect (start)
Foreseen end date
31 May 2006

Description

TDK is a manufacturer of unrecorded CDs and DVDs. Since last year (2005), the economic situation of TDK deteriorated bad. Therefore, the Japanese management has now decided to close the company on the 31st of May. A bonus of 1.600 € by length of service had been decided in the social plan of 2005. Now, the trade union insists that, on top of that, employees should be relocated and get proper training. For the moment, the government has not reacted to these developments. The negotiation will be finished on the 14th of April 2006.

Sources

  • 9 March 2006: Le Quotidien
  • 10 March 2006: Le Quotidien
  • 9 March 2006: La Voix du Luxembourg
  • 10 March 2006: La Voix du Luxembourg

Citation

Eurofound (2006), TDK, Closure in Luxembourg, factsheet number 63129, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63129.