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.
350 workers at NEC, an electronics devices plant, in County Meath, became the latest victims of the trend in Ireland which has seen traditional manufacturing companies move production to lower-cost economies. Some 300 full-time and 50 part-time employees are to lose their jobs at NEC Semiconductors when it closes at the end of September 2006. Management of the Japanese-owned plant said it was to cease production as part of a group consolidation exercise, which will result in jobs being switched to Singapore, Malaysia and China. The switch will enable the company to hire general operatives at a quarter of the cost of Irish workers, reducing labour costs by 75%.
Eurofound (2006), NEC Semiconductors, Offshoring/Delocalisation in Ireland, factsheet number 62975, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62975.