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.
645 jobs are going at the Belfast aerospace company Shorts, parent company Bombardier has said. The job cuts will start in January 2007. The firm said 645 jobs would go and all levels would be affected.
The group has been hit by weakening demand for its ageing family of regional jets in the face of growing competition from Brazil's Embraer, which has invested in a more modern product range and has overtaken Bombardier to become the world's leading maker of passenger jets below 110 seats.
The union Amicus was shocked about the job cuts, stating that despite being aware of the difficulties at the company, the announcement of 645 jobs lost on a Northern Ireland scale is enormous. Amicus also said that what they can do about it is limited and that Bombardier Shorts need to define what the future of Shorts in Northern Ireland is.
Consultations will begin with the unions to try to keep the compulsory redundancies to a minimum. Bombardier president Pierre Beaudoin said they had to ensure the achievement of increased profitability and success in the long term. 'This means making difficult but necessary decisions,' he said.
'We recognise the impact this decision will have on our affected employees and we will treat them fairly and with respect.'
Peter Robinson, DUP MP for East Belfast, said the job cuts would have a severe impact on the Northern Ireland economy.
'I have already spoken to Shorts Chief Executive Michael Ryan and urged him to take steps to offset and mitigate these job losses,' he said.
Eurofound (2006), Shorts, Internal restructuring in United Kingdom, factsheet number 64317, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64317.