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.
Wales; West Wales and The Valleys; Bridgend and Neath Port Talbot
Location of affected unit(s)
Maesteg
Sector
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.42 - Manufacture of perfumes and toilet preparations
231 jobs Number of planned job losses
Announcement Date
29 October 2008
Employment effect (start)
1 September 2008
Foreseen end date
30 November 2008
Description
Budelpack COSi, a firm that produces cosmetics, has announced that it is to cut 231 jobs at its site in Maesteg in South Wales. Approximately 550 are employed at the site. The firm attributes the decision to cut the jobs to a fall in sales caused by an economic downturn. A spokesperson for the firm stated that sales had fallen by a quarter in recent months. The spokesperson also stated,
‘It is very unfortunate that we have to restructure but in this current economic climate these changes are unavoidable’
The job losses are composed of 150 agency staff who have lost their jobs in the last two months, and 81 full time staff who will lose their jobs by the end of November 2008.
Sources
29 October 2008: BBC News
Citation
Eurofound (2008), Budelpack COSi, Internal restructuring in United Kingdom, factsheet number 67316, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67316.
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