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.
Wyeth Medica has announced that it is to shed 250 jobs at its plant in Newbridge, County Kildare. Workers at the pharmaceuticals plant, which has 1,400 permanent and 100 temporary staff, were told at meetings of the decision to "phase out" 250 jobs this year and in 2007.
Wyeth's decision to reduce job numbers at Newbridge is tempered by news that the company is to invest 350 million upgrading manufacturing facilities at the plant. It said this was evidence of the company's long-term commitment to its operations in Ireland in general, which employ 3,000 people. The investment programme for Newbridge would enable the plant to expand future production of new products being developed by the company, it said.
Eurofound (2006), Wyeth Medica, Internal restructuring in Ireland, factsheet number 63134, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63134.