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.
Waterford Crystal, the Irish multi-national manufacturer of glass, has announced that it is to cut up to 490 jobs at its headquarters in Waterford at which crystal is manufactured. The firm employs 1000 at its Waterford site, and the job losses are due to be implemented by the end of April 2008. It has also been reported that the jobs lost at the Waterford plant will be ‘offshored’ to Slovenia. Employees at the plant have protested against the decision, and the announcement also follows the firm closing its factory in Dungarvan in 2005 with the loss of 485 jobs. As of October 2007, the firm has declined to provide specific details about the job losses. However, in September 2007, the firm’s chairman Sir Anthony O’Reilly stated that a ‘final’ comprehensive restructuring plan ‘must be achieved’ before the end of the financial year in March 2008. Additional information on this case is available on the European Industrial Relations Observatory (EIRO) - Job cuts likely at Waterford Crystal following restructuring, published on 21 January 2008).
Eurofound (2007), Waterford Crystal, Offshoring/Delocalisation in Ireland, factsheet number 65987, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65987.