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.
Schering-Plough manufactures anti-cancer and anti-viral drugs known as 'interferon'. The 170 job losses are being attributed to rationalisation and a major fall in sales of anti-caner drugs. The cuts follow a recent announcement by the parent company of a 10% reduction in wage costs worldwide. Most of those affected will be contract workers, and it is hoped that remaining cuts affecting permanent staff can be achieved through voluntary redundancies. The company is to negotiate a redundancy package with the union SIPTU.
Eurofound (2004), Schering-Plough, Internal restructuring in Ireland, factsheet number 59527, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59527.