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.
Coca-Cola, the U.S. Multi-national specializing in the production of soft drinks, is to close its manufacturing and distribution plant in Drogheda, Co Louth with the loss of 256 jobs. In a statement, the firm said that on August 29th 2007 it had informed workers at the Drogheda Concentrates plant that the operation will close by September 2008. According to the company, its 'high-capacity' plant in Ballina, along with a specialised plant in Athy, are sufficient to meet current and future demand for its products. A company spokesman stated:
'The closure of the Drogheda Concentrates facility will result in a reduction of 256 positions, including six from the separate Shared Services organisation,'
The spokesman also added that some affected employees from the Drogheda plant would have the opportunity to move to either Athy or Ballina:
'Currently, there are 60 employees in Athy and 279 in Ballina. Between the two, these numbers will increase by approximately 90 new positions'.
Drogheda Concentrates general manager Hugo Reidy stated that the company 'will be offering a generous redundancy and early retirement package together with financial advice, job search, re-training and business start-up assistance for the employees affected. We are going into a period of consultation with the employee representatives on the redundancies which we are proposing to make.'
Eurofound (2007), Drogheda Concentrates, Closure in Ireland, factsheet number 65767, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65767.
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