Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Electrical Equipment
27 - Manufacture of electrical equipment

700 jobs
Number of planned job losses
Job loss
Announcement Date
21 January 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

TT Electronics, a supplier of electronic components, is to cut 700 jobs worldwide by the end of 2009. The cuts were blamed on the current trading conditions while the company is seeking ways to improve performance and shareholder value. TT Electronics employes 7,000 workers globally and supplies parts for the automotive, defence, aerospace, telecoms and computing industries.


Sources

  • 21 January 2009: BBC News
  • 21 January 2009: Reuters

Citation

Eurofound (2009), TT Electronics, Internal restructuring in World, factsheet number 67936, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67936.