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 Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
65 jobs Number of planned job losses
Announcement Date
9 February 2007
Employment effect (start)
Foreseen end date
31 December 2007
Description
Pharmaceutical firm, Pfizer, has announced that it would make 65 workers in Ringaskiddy redundant by the end of the year. The group also wants to sell off part of its plant at Loughbeg, also in Cork, which employs 300 people, and part of its Little Island plant, also in Cork, where 180 people are employed. Hopes of saving the 480 jobs at these two other plants in the Cork area depend on being able to sell them as going concerns in the next year or two. Government sources have been quoted as saying that the two Pfizer plants, at Loughbeg and Little Island, would be suited to generics manufacturers. Pfizer has closed 50% of its manufacturing plants worldwide since 2003, in a Plant Network Review aimed at rationalising its operations and avoiding duplication, following a series of mergers and takeovers.
Sources
10 February 2007: The Irish Times
14 February 2007: Industrial relations news
Citation
Eurofound (2007), Pfizer, Internal restructuring in Ireland, factsheet number 65057, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65057.
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