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.
Discussions between management and unions are set to get under way over job losses at the Daewoo electronics factory in Antrim. More than 200 people are to be made redundant at the factory which makes set top boxes and DVDs. Daewoo Electronics announced the 205 job losses on Monday. It is understood the South Korean firm, which currently employs 285 people at the plant, is asking for voluntary redundancies where possible.
A Daewoo spokesperson said the job cuts were necessary as the company was unable to compete with cheaper Turkish and Chinese imports. The firm said management were trying to remain optimistic and hoped that by making cuts now, they would be able to grow again in the future.
Eurofound (2006), Daewoo, Internal restructuring in United Kingdom, factsheet number 63967, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63967.