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 manufacturer Warner Chilcota has announced its decision of dismissing its 120 employees working in Spain. The affected workers are all working in pharmaceutical sales. The dismissals are part of a Europe-wide restructuring plan which will result in the loss of 500 jobs in Germany, France, Italy, Belgium, Netherlands and Switzerland.
The main reason behind this restructuring is the growing competition from generic medicines and the loss of exclusive rights to sell the Actomen medicine in 2010. As of may 2011, there is no information on when the job cuts will be implemented by.
Eurofound (2011), Warner Chilcott, Closure in Spain, factsheet number 71918, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71918.