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.
US heavy construction manufacturer, Caterpillar has announced plans to cut between 200 and 250 jobs from factories located in Northern Ireland. The company had 1,800 workers in Northern Ireland. Caterpillar has announced it will close its factory at Monkstown in Newtownabbey, end production of 25 tonne or larger material handlers and restructure sites in Larne in County Antrim and Springvale in west Belfast. The cuts are as a result of reduced demand for its products because of deterioration in global mining and oil exploration. Caterpillar is considering moving some jobs to China. The company has already reduced the workforce in Northern Ireland by more than 1,000 workers since 2011 and has reduced the size of its global workforce by almost 14,000 jobs since the middle of 2015.
Eurofound (2016), Caterpillar, Internal restructuring in United Kingdom, factsheet number 88459, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88459.