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.
The British-Swedish company AstraZeneca is one of the world leaders in producing medicines and other healthcare solutions. It has around 65,000 employees in the world and 14 manufacturing plants in 19 countries. In Italy, AstraZeneca has around 2,100 employees who work both in the commercial and administrative divisions located in Basiglio and Caponago, both in the province of Milan. At the beginning of 2007 the company announced a cost-saving plan that will affect all its plants worldwide. As part of this plan, at the end of June 2007 AstraZeneca Italia announced the loss of 330 jobs in the Italian commercial division located in Basiglio and Caponago. The company has made this decision in order to tackle the cut in profits following the latest national policy on the reduction of prices of several pharmaceutical products. In the next days, the company and the trade unions will meet in order to define measures to support the affected employees.
Eurofound (2007), Astra Zeneca, Internal restructuring in Italy, factsheet number 65556, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65556.