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.
The firm TK-ECC which makes seat belts for cars has announced the closure of its East Belfast plant. The firm was previously known as Fisher Body and all of its 550 employees are to lose their jobs within weeks following negotiations with the unions. The Northern Ireland minister Ian Pearson, MP expressed his disappointment at the news and indicated the cause as global competition in the car industry. He added that "The priority now is to help those who have been made redundant, and ... provide counselling for those who have lost their jobs and help them to take advantage of retraining opportunities or to examine self-employment options."
Eurofound (2004), TK ECC, Closure in United Kingdom, factsheet number 59310, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/59310.