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
New offshoring locations
Uknown
320 jobs Number of planned job losses
Announcement Date
25 September 2008
Employment effect (start)
Foreseen end date
30 June 2009
Description
US-owned firm Tyco is closing its Cork plant with the loss of 320 jobs. Tyco, which makes safety products, will retain only 20 members of its entire Irish workforce which, just five years ago, totalled more than 500. The plant will be wound down by mid-2009. Tyco will transfer its entire Irish manufacturing operation to an unnamed low-cost market. It has been speculated that the jobs could be relocated to the Far East or Central America. General manager Donal Sullivan expressed regret at the decision, but said the move was unavoidable. "We faced increased operating costs over the last number of years affected by labour costs, freight costs, but maybe most crucially by exchange rate movements -- a very strong euro versus the dollar." Tyco manufactures and sells a variety of safety products, including fire detection and suppression products, breathing apparatus and anti-theft tags.
Sources
26 September 2008: The Irish Independent
Citation
Eurofound (2008), Tyco Safety Products, Offshoring/Delocalisation in Ireland, factsheet number 67144, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67144.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
