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
500 jobs Number of planned job losses
Announcement Date
4 December 2007
Employment effect (start)
1 January 2008
Foreseen end date
30 September 2008
Description
Abbott, a multi-national manufacturer of pharmaceuticals, has announced that it is to close its site in Galway with the loss of 500 jobs. The job losses will begin to be implemented from January 2008, and the site will be closed by the end of September 2008. Approximately 50 of the affected staff will be redeployed to the group’s site in Clonmel which produces a similar products. Management at the group attribute the closure of the site to the need to cut excess manufacturing capacity in order to become more efficient. Management at the plant have stated that they will offer affected workers seven to eight weeks of pay for every year of service. The Galway site produces stents that are used to widen clogged arteries in heart disease patients, and catheters.
Abbott employs approximately 3,300 in seven sites in Ireland. The closure of the Galway site is part of a global restructuring plan by the group to cut 1,200 jobs internationally.
Sources
5 December 2007: The Irish Times
Citation
Eurofound (2007), Abbott, Closure in Ireland, factsheet number 66097, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66097.
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