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 - Manufacture of electrical equipment
450 jobs Number of planned job losses
Announcement Date
7 January 2009
Employment effect (start)
1 March 2009
Foreseen end date
1 October 2009
Description
Wind turbine blade producer LM Glasfiber announced in early January that it is to cut 450 jobs in Denmark as a result of the on-going financial crisis. LM Glasfiber is owned by the British Equity fund Doughty Hanson & Co. The management and employees' representatives will now begin negotiations about a plan for the further development of the mass redundancy focussing on other job possibilities and job re-training. The Social Democrats are appealing in the Parliament to the Minister of Employment to take special action in this case of mass redundancy and spend funds from a special scheme under the Budget Act, which can be used in large cases of redundancies.
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