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.
More than 300 jobs are to go at a Black Country factory that supplies locks to the car industry. Asso Abloy, on Church street in Willenhall, said the jobs will be phased out over the next year. After a major review at the Swedish firm, which began supplying the automotive industry in 1957, bosses felt the business was no longer viable. A spokesman said they regret the action but in light of demanding price pressure it is inevitable. It will mean the loss of 310 positions at the site but the process will be carried out 'gradually and carefully' and will last until 2008, a spokesman said. All employees will be consulted about the implications of the decision and given detailed information about the process.
Eurofound (2006), Asso Abloy, Internal restructuring in United Kingdom, factsheet number 63451, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63451.