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.
Terumo Europe, the European wing of the Japanese medical devices group Terumo, has announced in October 2014 plans for internal restructuring and business re-orientation of its Hospital and Laboratory Business Unit. This may result in 260 job losses across its European workforce, which currently comprises 1,200 employees. 210 of the foreseen job cuts will occur in Belgium where 770 people are currently employed by the company. The job cuts are to be be implemented by March 2016. The ERM has reported on the Belgian job losses here. The decision to implement internal restructuring measures was motivated by changed market dynamics and increased pressures arising from healthcare reforms, growing production costs and competition from other low-wage countries.
Eurofound (2014), Terumo Europe, Internal restructuring in European Union, factsheet number 77907, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77907.