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.
It has been announced that the Honeywell factory in St Asaph, Denbighshire will close with the loss of 150 jobs. The factory which manufactures cabling, LED lighting and other wiring equipment employs 129 permanent staff with a further 21 staff on agency terms. The decision has been taken by the company in order to consolidate production into fewer sites. A 45 day consultation process will begin, though it is already being reported that the final closure of the site will take place by the end of 2019.
Both the local MP and the Unite union have reacted to the news. The union described the announcement as 'out of the blue' with no prior indication being given as to the firm's intention. The local MP commented that the loss of jobs would have a severe effect on the economy in North Wales and he was seeking to speak with the company management to discuss the help and support which employees will receive.
Eurofound (2019), Honeywell, Closure in United Kingdom, factsheet number 97367, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97367.