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 4 February 2013, the US pharmaceutical group Bristol-Myers Squibb announced that 235 workers will be made redundant. The job cuts will mainly affect its commercial workforce.
The US group has to deal with the loss of several key patents and a renegotiation of partnerships with Sanofi and Otsuka to sell pharmaceutical products.
The group closed a plant in France in 2010 with 110 consequent job losses including 85 forced dismissals (see here). In July 2012, the former employees won a lawsuit that was taken to the employment tribunal and BMS has to pay them 1,2 million euro for unfair dismissal procedures.
Eurofound (2013), Bristol-Myers-Squibb (BMS), Internal restructuring in France, factsheet number 74888, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74888.