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 management of Philips EGP, the flat screen television manufacturer, has announced during an ordinary session of the work council a restructuration plan that will result in the loss of 279 jobs at its plant in Dreux currently employing 540. This is the second restructuring plan that the firm has implemented since 2005, when 350 employees were made redundant.
Although the plan is not completely clear and should be discussed further in an extraordinary session of the work council on 8 April 2008, the management has confirmed that 279 jobs will be cut. Richard Woods, manager of the plant in Dreux, defended the decision in the light of the global difficulties faced by the sector, such as the fall in prices and the entrance in the market of new competitors with a growing industrial capacity.
Eurofound (2008), Philips EGP, Internal restructuring in France, factsheet number 66444, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66444.