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 US-based pharmaceutical company Pfizer announced on 23 January 2007 its plans to cut 10,000 jobs, which is about 10% of its world-wide workforce. The company is reported to face substantial reductions in overall turnover and profits as a number of its products are to lose their patent protection in the forthcoming years. The company wants to save 5 billion USD in costs by its job-cutting measures.
Eurofound (2007), Pfizer, Internal restructuring in World, factsheet number 64835, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64835.