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.
Some 280 workers at Magna Donnelly Electronics in Naas, Co Kildare, are to lose their jobs following the announcement by the company's Canadian owners that they intend to close the factory. Operations are expected to cease by the end of 2007. The company, which manufactures mirrors for the automotive industry, said it would hold a 30-day consultation period with its employees on the proposed closure. Production is to be switched to other Magna plants in the United States and Europe. The decision to close came after months of evaluating the facility's financial status, operational performance and future products, according to a statement issued by the company. The company said the decision was a difficult one, "particularly considering the impact it will have on employees and the community" but it insisted a combination of declining sales, competition and high costs had made the facility no longer viable. Employees and unions had been kept informed regarding the possible closure over the past few months, the company said. "Management will now focus on a smooth transition of current business to other Magna facilities while at the same time providing assistance to employees as they seek new employment," the company added. However, a Siptu trade union branch organiser at the plant said the news had come as a blow to workers.
Eurofound (2006), Magna Donnelly, Offshoring/Delocalisation in Ireland, factsheet number 64582, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64582.
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