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.
GlaxoSmithKline, the multi-national producer of pharmaceuticals, has announced that it is to cut 310 jobs at its sites in Worthing and Crawley. The firm has stated that the job losses are a result of the firm’s need to save 700 million GBP annually until 2010 in order to offset falling sales of its diabetes treatment Avandia. 180 job losses will be implemented at the Worthing site, whilst 130 job losses will be implemented at the Crawley site. The firm has stated that all of areas of the sites will be affected by the job losses, and has also stated that the job cuts will affect permanent positions as well as contracted positions. The job losses are due to be implemented by the end of 2009. Ian Holdstock, Director of the Crawley site stated, 'We regret the impact of this proposal, but would like to emphasise that [the] announcement is based on a review of the forecast volumes and the need to improve the efficiency of our operations… This is not a reflection of the performance of our employees. The site has a good customer service record and has contributed to a number of successful product launches this year. This is disappointing news but we are committed to supporting our staff though these difficult times.' GlaxoSmithKline employs 100,000 globally.
Eurofound (2007), Glaxo Smith Kline, Internal restructuring in United Kingdom, factsheet number 65975, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65975.