LG Philips Displays

Type
Internal restructuring
Country
Germany
Region
Nordrhein-Westfalen; Köln; Städteregion Aachen
Location of affected unit(s)
Aachen
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
93 jobs
Number of planned job losses
Job loss
Announcement Date
20 July 2004
Employment effect (start)
20 July 2004
Foreseen end date

Description

LG Philips Displays, the display producing joint venture of Dutch Philips and South Korean LG Electronics, will cut 93 of the 520 jobs in Aachen, western Germany, it was reported on 20 July 2004. According to German media, the job cuts will be in the company glassware division. LG Philips Displays has been facing financial problems, due to the unfavourable market conditions.

Sources

  • 20 July 2004: Het Financieele Dagblad

Citation

Eurofound (2004), LG Philips Displays, Internal restructuring in Germany, factsheet number 60579, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60579.