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.
Some 140 jobs are to be lost with the closure of an electric motors manufacturing plant in Bray, Co Wicklow, despite union attempts to keep the plant open. Workers at the AO Smith plant were told of the closure of the factory which has been in the town for 29 years. A union representative blamed the ‘corporate culture' of relocating to eastern Europe and the Far East in search of ‘cheap labour and the fast buck' for the closure. The company said it had been forced to make the decision because it had been operating the plant at a loss.
Eurofound (2005), AO Smith, Closure in Ireland, factsheet number 61430, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61430.