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 Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
11,000 jobs Number of planned job losses
Announcement Date
31 October 2011
Employment effect (start)
15 November 2011
Foreseen end date
Description
On 31 October, the Japanese electronics manufacturer TDK has announced to cut 11,000 jobs around the world (12 per cent of its workforce). The Japanese company will also sell its organic light-emitting diode display business. TDK's workforce reductions are scheduled to begin as early as this fiscal year. The management has not yet given details on which countries will be affected by the job losses.
TDK stated that it has to make face to a dramatic decrease of 74 per cent of its net income in the past six month due to the strengthening yen, the earthquake and tsunami in Japan and the most recent floods in Thailand.
Eurofound (2011), TDK, Internal restructuring in World, factsheet number 72662, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72662.
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