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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
850 jobs Number of planned job losses
Announcement Date
4 September 2008
Employment effect (start)
1 January 2009
Foreseen end date
31 December 2009
Description
Tyco Electronics, a provider of electronic components and systems for a wide range of industries, including automotive, appliance, aerospace computers and consumer electronics, has announced its plans to consolidate its automotive production in Europe with the consequent loss of 850 jobs in 2009. The plans are contingent upon approval of the local works councils and the European Works Council. The restructuring will result in the closure of three plants and the reorganization of operations at several units in Spain and France. According to the chief executive officer, these measures are part of a broad strategy announced last year to streamline the company’s operations and improve its productivity. The restructuring is expected to be implemented within 15 months.
Sources
5 September 2008: La Tribune
7 September 2008: Le Dauphiné
8 September 2008: Les Echos
Citation
Eurofound (2008), Tyco Electronics, Closure in European Union, factsheet number 67049, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67049.
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