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.
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.
Eurofound (2008), Tyco Safety Products, Offshoring/Delocalisation in Ireland, factsheet number 67144, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67144.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
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