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.
Globalfoundries, a US-based semiconductor foundry, will cut between 700 and 800 out of 3,700 jobs at its plant in Dresden. According to the head of the Company, Globalfoundries must cut its personnel costs by 20% for the plant to remain economical. The staff at Globalfoundries has been informed and the management hopes that the negotiations with the workers' council will be completed by January 2016.
Globalfoundries is a semiconductor foundry which produces micro chips. The Dresden site was first set up in 2009; the company's headquarters are in Santa Clara, US. Globalfoundries is one of the largest private sector employers in Dresden.
Eurofound (2015), Globalfoundries, Internal restructuring in Germany, factsheet number 85146, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85146.