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 Manufacturing Of Furniture And Other Manufacturing Other Manufacturing 32.50 - Manufacture of medical and dental instruments and supplies
210 - 260 jobs Number of planned job losses
Announcement Date
23 October 2014
Employment effect (start)
23 October 2014
Foreseen end date
31 March 2016
Description
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.
Sources
23 October 2014: Company press release
23 October 2014: De Standaard
Citation
Eurofound (2014), Terumo Europe, Internal restructuring in European Union, factsheet number 77907, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77907.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
