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.
Pharmaceutical company Glaxo Smithline is to cut 550 jobs at its site in Verona. The company will close its research unit with the loss of 550 jobs. Glaxo has around 1,500 employees in Verona. The trade unions and the local authorities disagree with the company's decision.
These job cuts are part of a larger restructuring plan that will result in the loss of around 4,000 jobs worldwide. The bulk of the cuts will be in America and Europe, and are part of the company's efforts to make its research and development arm more cost-efficient. The company also intends to focus increasingly on emerging markets.
Eurofound (2010), Glaxo SmithKline, Internal restructuring in Italy, factsheet number 70148, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70148.