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.
On 23 June 2011, IT company ST-Ericsson announced 100 job cuts through voluntary departures. The job cuts are part of a worldwide restructuring plan. The company (6,700 employees) has announced to cut 500 positions worldwide and it expects to reduce its costs up to 120 million dollars.
According to the management, this restructuring is due «to recent changes in the business environment and reduced demand for legacy products from some customers».
In 2010, the joint venture belonging to ST-Microelectronics and Ericsson, closed a research and development site operated in Caen, displacing 114 employees.
Eurofound (2011), ST-Ericsson, Internal restructuring in France, factsheet number 72256, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72256.