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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
80 jobs Number of planned job losses
Announcement Date
20 June 2006
Employment effect (start)
Foreseen end date
31 December 2006
Description
Alba, the consumer electrical business whose brands include Bush and Grundig televisions and employ 500 in the UK, is cutting 80 jobs in the UK this year. The news came as the company reported a slump in full-year profits from £21.6m to £2.4m. Chief executive Daniel Harris admitted the company had been too slow to adapt to the switch from analogue to digital electronic products.
'Consumer electronics is now very much a digital business,' he said, 'and we have to change the way we operate with suppliers and the whole product life cycle.'
Sources
20 June 2006: The Guardian
Citation
Eurofound (2006), Alba, Internal restructuring in United Kingdom, factsheet number 63678, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63678.
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