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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.4 - Manufacture of electric lighting equipment
160 jobs Number of planned job losses
Announcement Date
15 October 2008
Employment effect (start)
31 October 2008
Foreseen end date
31 December 2008
Description
On the 15th October, the Dutch company Philips, well known for the manufacture of domestic appliances has announced the cut of 160 jobs on its Belgium site of Turnhout where 2400 people are employed in the manufacture of lighting equipment. The people concerned are employed with fixed-term contracts that will be not extended. Philips is concerned with the global financial crisis and the decrease of the demand for its products. The objective is to save around 230 millions for this trimester.
Sources
15 October 2008: Het Nieuwsblad
15 October 2008: De Standaard
16 October 2008: L'Echo
Citation
Eurofound (2008), Philips, Internal restructuring in Belgium, factsheet number 67285, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67285.
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