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.
Mondelez, which runs the Cadburys chocolate manufacturing plant in Coolock, Dublin, is seeking a reduction in headcount of up to 70 people over the next two years.
Management said it needs to keep the business 'operating as efficiently and effectively as possible' and that it plans to invest €15m into the Coolock plant to make the site more competitive in the future. It is engaging with the two plant unions, SIPTU and Unite, over the job reduction measures.
The previous restructuring at the plant involved a job reduction of 35, whittled down from an original reduction of 80; therefore it is not unlikely that the job reduction in this round of restructuring will be lower than the 70 figure given.
The intent is to achieve the desired reduction in the workforce by natural departures and voluntary redundancy.
The severance terms expected to apply are three times’ statutory redundancy for those from 2-15 years’ service; 3.5 times statutory for those with 15-22 years’ service; and 4.5 times statutory for those with over 22 years’ service.
Eurofound (2019), Mondelez, Internal restructuring in Ireland, factsheet number 98199, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98199.
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