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.
Bombardier's President and CEO Paul Tellier announced a major restructuring initiative for the corporation's rail transportation business that will address excess capacity in its industrial operations, drive performance improvements and restore its earnings power. Proposed general workforce reductions at sites around the world and site closures in Europe will impact 6,600 positions, 37% of which are white collar workers. These workforce reductions have already begun at some locations. The excess capacity issue is most acute in Europe, where all the site closures and 86% of the workforce reductions are intended to take place. In North America, actions to address overcapacity issues have already been initiated. In Europe, sites identified for closure in 2004 are Amadora in Portugal and Doncaster and Derby Pride Park in the United Kingdom. Closures of facilities in Pratteln (Switzerland), Ammendorf (Germany), Kalmar (Sweden) and Wakefield (United Kingdom) are envisaged for 2005.
Eurofound (2004), Bombardier, Internal restructuring in World, factsheet number 60023, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60023.