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.
Pharmaceutical manufacturer MSD, is to cut 130 jobs in the second half of 2014 at its plant in Swords, Co Dublin. As announced, the company plans to close the plant by the end of 2017, with an expected job loss total of 570.
According to media reports, the Swords plant production activities will be offshored to the group’s facilities in the Netherlands, Belgium, the USA and also outsourced to other manufacturers in Europe.
The Swords plant closure follows a recent announcement of a worldwide restructuring plan envisaging 8,500 job cuts by the end of 2015.
In March 2013, MSD announced also the closure of its ingredient plant at Rathdrum, Co Wicklow, by the end of 2015 with the loss of 280 jobs.
MSD employs more than 2,000 people in Ireland.
Eurofound (2013), MSD, Offshoring/Delocalisation in Ireland, factsheet number 76291, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76291.