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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
93 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60579.
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