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.
Arad (Romania), Richardson (USA), Saint Petersburg (Russia), Shenzen (China)
Sector
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
5,000 jobs Number of planned job losses
Announcement Date
15 January 2009
Employment effect (start)
1 February 2009
Foreseen end date
Description
Elcoteq, a Finnish electronics manufacturing services company, has announced that it is to lay off 5,000 employees. The job losses result from the closure of three factories located in Arad in Romania (400 jobs reported lost), Richardson in the US, and Saint Petersburg in Russia as well as the transfer of the production activities from the Shenzen site to Beijing (China). In 2008, the company had a global workforce of 21,000 employees.
Sources
16 January 2009: Ziarul Financiar
Citation
Eurofound (2009), Elcoteq, Closure in World, factsheet number 68058, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68058.
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