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 26.8 - Manufacture of magnetic and optical media
347 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63129.
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