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 Tobacco Products Manufacture Of Tobacco Products 12 - Manufacture of tobacco products
1,410 jobs Number of planned job losses
Announcement Date
4 April 2014
Employment effect (start)
1 October 2014
Foreseen end date
31 December 2014
Description
In April 2014, the tobacco products manufacturer Philip Morris has announced that it will end cigarette production in Melbourne (Australia) by the end of this year (180 job cuts) as the company shifts production to South Korea and it will close its factory in Bergen op Zoom in the Netherlands on 1 October 2014. This site employs 1,370 employees, and 1,230 manufacturing workers risk losing their jobs. An additional 400 workers employed by service providers are also affected, as are an estimated 2,000 jobs in the region.
The ERM has also reported on restructuring in Italy and the Netherlands in 2014.
Sources
4 April 2014: Yahoo Finance
2 April 2014: ABC Net
4 April 2014: Philip Morris (Press Release )
16 April 2014: IUF (Press Release)
Citation
Eurofound (2014), Philip Morris International, Internal restructuring in World, factsheet number 76924, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76924.
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