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.
On 5 april 2006, Philips (electronics) announced that it will close the light bulb factory in Weert. Closure will result in the loss of 250 jobs. Employees of the factory had expected the decision. A mobility bureau had been looking for other jobs for employees for several months. The reason for the closure is competition from producers based in Eastern Europe and China.
Philips explicitly denied that similar decisions will be taken with regard to the remaining eight light bulb factories in the Netherlands. A spokesperson mentioned the fact that Philips will invest Euro 40 million in one of its other light bulb factories.
Eurofound (2006), Philips Weert, Closure in Netherlands, factsheet number 63288, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63288.