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
930 jobs Number of planned job losses
Announcement Date
21 March 2007
Employment effect (start)
Foreseen end date
31 December 2010
Description
After the acquisition of Altana Pharma AG, the Danish pharmaceutical company Nycomed announced its new business strategy on 21 March 2007 unveiling that 800 jobs will be cut in Germany and 1,250 worldwide due to synergy effects of the acquisition and improved efficiency. It was said that at the Altana headquarter at Konstanz 200 jobs will be lost at administrative positions; another 600 jobs will be cut in the research and development department. Nycomed announced future negotiations with employee representatives to specify the details of the job cuts. On 2 July 2007 the results of these negotiations were reported. Nycomed and the works council agreed that activity will continue at the units in Konstanz, Barsbüttel and Singen until 2010 but that 930 jobs, instead of 800, will be cut.
Sources
2 July 2007: Frankfurter Allgemeine Zeitung
15 June 2007: Handelsblatt
22 March 2007: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2007), Nycomed, Merger/Acquisition in Germany, factsheet number 65157, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65157.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
