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.
Parker Hannifin, a manufacturer of refrigeration components, is to cut 175 jobs at its Crook site in Durham. The company will close down the factory as a response to falling demand and increased foreign competition. Although the exact date the job losses will commence is yet unknown, the 175 employees of the plant have received notice that they will lose their jobs in the new year (2009). 20 employees will be kept on until June 2009 in order to assist with the closure.
Eurofound (2008), Parker Hannifin, Closure in United Kingdom, factsheet number 67624, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67624.