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.
Pharmaceutical company Roche announces its plans to close its plant in Clarecastle by March 2020. Already in a phased shutdown, the site has a workforce of 132 employees, who are planned to be made redundant by June 2020. According to reports, the company set aside €24 million to fund redundancy packages for employees, who are likely to receive €180,000 each on average.
The decision is the result of the difficulty in finding a buyer for the site. Moreover, the company recorded pre-tax losses amounting to €1.7 million in 2018, with an 11% decrease in revenues.
Eurofound (2019), Roche, Closure in Ireland, factsheet number 98628, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98628.