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 Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
200 - 250 jobs Number of planned job losses
Announcement Date
1 September 2016
Employment effect (start)
1 September 2016
Foreseen end date
1 September 2018
Description
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. 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.
Sources
1 September 2016: BBC News Northern Ireland
1 September 2016: BBC News Northern Ireland
Citation
Eurofound (2016), Caterpillar, Internal restructuring in United Kingdom, factsheet number 88459, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88459.
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.
