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.
Up to 200 jobs may be lost in Cork after a US multinational supplying the information technology sector announced that it is to transfer some of its production from Ireland to the Czech Republic. Banta Global Turnkey, which is based at the Hollyhill Industrial Estate in Cork, is a contract manufacturing organisation which produces hard disk drives as well as printing manuals and brochures primarily for the information technology sector. The company announced in a statement that moving production to a new facility in the Czech Republic would "help bring the company's cost structure in line with the current competitive environment and customer requirements." The firm employs 350 people in Cork, and it said that up to 200 of these may be effecting by the transfer. Some 75 per cent of those affected are permanent, while some 25 per cent are temporary staff. "The redundancies likely will occur during the first quarter of 2007. Banta will provide a redundancy package and out-placement assistance to eligible employees," said a company spokesman, adding that the 700 workers at Banta's Limerick plant will not be affected. Banta Global Turnkey was established in Cork in 1995, when Banta Corporation, which is headquartered in Wisconsin, took over the Irish-owned BG Turnkey Services.
Eurofound (2006), Banta Global Turnkey, Offshoring/Delocalisation in Ireland, factsheet number 64152, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64152.
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