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.
Pharmaceutical group Uniphar has announced 140 redundancies across Ireland, and it is also seeking 7% pay cuts for all non-managerial staff. A Uniphar statement on the pay cuts and redundancies said the company had undertaken a strategic review of the business under deteriorating market conditions. It added: 'The fundamental issue for the company is that revenues are being eroded due to a combination of adverse actions by the HSE, a substantial increase in parallel imports across all market segments in which the company operates, and the general downturn in the Irish economy.'
The company has said that it will 'enter a period of consultation and planning before implementation of the cost cutting programme to ensure fairness and equity as far as possible'. About 45 of the jobs are to be lost in the company's Limerick pharmaceutical depot, due to the end of an evening shift there, because of the partial automation of order picking. The company's other wholesale distribution bases are at Citiwest near Dublin, Cork and Sligo.
Eurofound (2009), Uniphar, Internal restructuring in Ireland, factsheet number 69863, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69863.