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.
Fine crystal and china maker Waterford Wedgwood has said it is to cut 1,800 jobs as part of a €90 million (£61 million) global restructuring. The cuts include 485 posts at the Waterford Crystal plant in Dungarvan, Ireland, which is to close. As well as the closure of the Dungarvan plant, other jobs set to go include 160 at its Rosenthal division in Germany. The majority of the posts are expected to be shed in the UK and Ireland, with job cuts expected too at the firm's flagship plant in Waterford city.
Last year Waterford Wedgwood bought UK bone china maker Royal Doulton, a move which it said would boost the competitiveness of both companies and lead to cost savings. Chairman Sir Anthony O'Reilly said ‘These changes are vital to ensure the long term prosperity of this historic company and its key heritage plants in Ireland, England and Germany as we face increasing competition from low cost economies in Asia and elsewhere.'
Eurofound (2005), Waterford Wedgwood, Internal restructuring in European Union, factsheet number 61521, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61521.