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
100 jobs Number of planned job losses
Announcement Date
19 January 2009
Employment effect (start)
Foreseen end date
Description
US-owned Molex, a manufacturer of fibreoptic connectors, has announced 100 redundancies at its plant in Shannon, County Clare. The company currently employs 450 at the Irish plant. Management has offered a redundancy package worth six weeks pay for each year of service with the company, inclusive of statutory entitlement.
The parent company has engaged in a restructuring exercise in the US and in its overseas subsidiaries. The company has referred to a drop in demand and reduced profits. It is understood the remaining workforce at the County Clare plant will be requested to take a pay cut.
Eurofound (2009), Molex, Internal restructuring in Ireland, factsheet number 68307, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68307.
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