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 Lighting, the branch of the Philips group that is responsible for the manufacturing of lighting equipment has announced that it will dismiss 158 of its employees. 109 of the jobs are blue collar jobs, 49 white collar. The main reason for the job losses is the fact that the facilitiy in Turnhout is specialised in the production of more traditional (non-LED) forms of lighting equipment, which are in declining demand. According to the company management the dismissals are part of a multi-year plan that foresees a dismissal rate of approximately 5% each year. The trade unions are aware of this, as in the past there have been significant downsizing measures (most recently, in 2015 and 2017). However the fact that almost one quarter of the workforce will be dismissed instead of 5% has come as a significant shock.
Eurofound (2018), Philips Lighting, Internal restructuring in Belgium, factsheet number 96152, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96152.