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.
The telecom cable company Draka Comteq Finland has concluded its personnel negotiations which it initiated in July. The company has decided to close down its telecom cable factory in Oulu and dismiss 170 people there. The number of dismissals remained at the anticipated level. The shutdown of the Oulu factory is planned to be completed by the end of March 2007. The intention is to move the production in the Oulu factory to other Draka factories in Germany, Denmark and Russia. The company has announced it tries to transfer the dismissed personnel to other companies of the Draka corporate group. Draka Comteq Finland will continue to market and sell the products in their market area as before. On 29 June 2006, Draka Comteq, manufacturer of cables for communication purposes, announced to cut 330 jobs throughout Europe in response to the change in the telecommunications market that has been going on for several years. Draka Comteq is a subsidiary of the Draka Holding, which is active on the global scale. This reorganisation yields an annual cost reduction of EUR 12 million. The target is to develop Comteq factories to produce line units supplying products to the European market.
Eurofound (2006), Draka Comteq Finland, Offshoring/Delocalisation in Finland, factsheet number 63814, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63814.