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.
Philips, the Dutch electronics manufacturer, has announced the dismissal of 78 of 735 employees in its lighting manufacturing facility in Turnhout. Of the total of 78, job losses, 29 are white collar workers and 49 blue collars. The plant is specialized in conventional lighting for stores and stadiums. It has in recent years had to deal with an increase in competition from (often Asian) producers of LED alternatives. Twenty years ago the company employed over 2.800 people at this establishment.
Trade union reactions are mixed. On the one hand they received a form of guarantee that the factory will not be closed by 2020. However, after this the situation becomes much more unclear and the risk of closure remains a serious possibility.
Eurofound (2017), Philips , Internal restructuring in Belgium, factsheet number 92601, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92601.