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.
NXP, a producer of semiconductors for electronic devices based in the Netherlands, announced its plans to cut 850 out of 2400 jobs at its site in Hamburg. The reason given for the decision is the general economic downswing, the weak Dollar and the need to slim administration down. NXP employs approximately 31,000 employees worldwide. The job cuts will be implemented by 2010 but no precise timeline was given.
Eurofound (2008), NXP, Internal restructuring in Germany, factsheet number 67114, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67114.