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.
On 7 February, the pharmaceutical manufacturer Abbott France announced a restructuring plan resulting in the loss of 201 jobs (out of a total of 2,000 in France) and the creation of 52 new jobs.
The restructuring plan was announced to the works council and unions have opposed the decision. They argue that the job losses are unjustified because the group increased its turnover of 14,3% in 2010.
Abbott has decided to discontinue all activities in ‘primary care' and create 52 new positions in the immunology department. Of the 201 job cuts, 192 will affect pharmaceutical sales representatives. The US group Abbott announced in September 2010, its intention to cut 3,000 positions in the world and 1,000 in Europe before 2012.
Eurofound (2011), Abbott France, Internal restructuring in France, factsheet number 71608, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71608.