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.
Nijmegen(NL), San Antonio (Texas), Albuquerque (New Mexico)
Sector
(10 - 33) Manufacturing (26 - 27) Manufacture of electrical, electronic and optical products 27 - Manufacture of electrical equipment 27 - Manufacture of electrical equipment
410 - 1,600 jobs Number of planned job losses
Announcement Date
4 November 2002
Employment effect (start)
1 December 2002
Foreseen end date
1 December 2003
Description
Philips Semiconductors employs over 32,000 employees in more than 50 countries. With sales of around $4.4 billion in 2001, Philips Semiconductors is one of the world's top semiconductor suppliers. 90 job losses announced on 4 December 2002 (50 should happen 'naturally', for the other 40, Philips tries to find an outplacement solution).
In 2003, new dismissals were announced by the company (2003-03-13).
Sources
14 March 2003: De Volkskrant
6 November 2002: Het Financieële Telegraaf
4 November 2002: De Telegraaf
Citation
Eurofound (2002), Philips Semiconductors, Internal restructuring in World, factsheet number 60192, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/60192.
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