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
New offshoring locations
240 jobs Number of planned job losses
Announcement Date
23 January 2007
Employment effect (start)
Foreseen end date
31 December 2008
Description
French-owned company, FCI Ireland has announced it is to close its plant in the Cork town of Fermoy with the loss of 240 jobs. The plant makes precision electrical connectors for the car industry. The decision to close the Fermoy operation is part of a global restructuring by FCI, which employs 13,500 people in 30 countries. A company spokesman said the company was losing market share in the automotive supply sector and had decided to consolidate its production in fewer locations. It had also been forced into locating production in lower-cost countries to keep pace with its main competitors. Most of the work done at the Fermoy plant is to be transferred to a factory under construction at Cochin, in southwest India, where labour costs were just 15% of what they were in Ireland. Technical staff from the Indian plant had come to Fermoy to be trained for the new operation in Cochin. FCI Ireland will maintain a service and support centre in Fermoy employing 15-20 people.
Sources
24 January 2007: The Irish Times
Citation
Eurofound (2007), FCI, Offshoring/Delocalisation in Ireland, factsheet number 64860, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64860.
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