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.
Perfume maker Irish Flavours and Fragrances (IFF), based in Drogheda County Louth, is to make 101 staff redundant when its plant closes on September 30, 2010. IFF has been told by Ireland's Labour Court to pay staff redundancy terms of eight weeks per year of service, inclusive of statutory entitlement. In making its recommendation, the Court noted that the company was 'closing its plant in Ireland as part of a major restructuring programme that is unrelated to the performance of the Irish Company' The plant is to close on September 30, 2010, and no redundancies are due to occur before this date, in return for an orderly wind-down.
Eurofound (2009), Irish Flavours and Fragrances, Bankruptcy in Ireland, factsheet number 69521, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69521.