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.
Drugs giant AstraZeneca is to cut more than a quarter of the workforce at one of its UK plants. A total of 700 jobs will go over the next three years at the company's plant in Macclesfield, Cheshire, which employs 2,500 workers. AstraZeneca's staff cuts are part of an efficiency drive which will lead to 3,000 jobs losses worldwide by 2010. The group is facing competition from rivals making cheaper generic versions of its drugs once patents expire. Despite the job losses, a company spokesman said the Macclesfield site was integral to the company's global supply chain and would remain one of its largest worldwide supply sites. AstraZeneca also announced it would be investing 63.5 million GBP in a new research and development laboratory, which it hopes to open in 2009. Unions expressed surprise at the scale of the job losses, with Amicus and the GMB vowing to try to reduce the number of planned redundancies.
Eurofound (2007), Astra Zeneca, Internal restructuring in United Kingdom, factsheet number 64982, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64982.