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.
About 175 people are to lose their jobs at the Visteon car components plant near Swansea, the company announced on 30 March 2007. The factory makes axles and brake systems. Management said the job losses resulted from Ford's decision to close a foundry in Leamington Spa, Warwickshire, which Visteon supplies with parts. The company also said that the plant would phase out production of brakes between now and the Ford summer shutdown. According to Visteon, the people losing their jobs would be temporary workers and those wanting voluntary redundancy while others would be transfered to different plants.
Eurofound (2007), Visteon, Internal restructuring in United Kingdom, factsheet number 65188, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65188.