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 French subsidiary of the German group Klöckner & Co, which is specialised in the sale of steel, metals and industrial supplies, has announced a refocusing of its activity. The plan envisages keeping 26 sites out of 37 in France and cutting nearly 360 positions affecting staff in head office and agency staff. According to a company press release, the economic and health crisis due to COVID-19 has added to this situation and is severely affecting the company and its customers. Even with an optimistic medium-term economic recovery in sight, and despite the efforts and support of the parent company, the group in France has noted that it will unfortunately not be able to regain the financial equilibrium necessary for its sustainability. In this context, Kloeckner Metals France has decided to take emergency measures to safeguard the jobs of its employees and its presence in France. This project envisages 360 job cuts at Kloeckner Metals France and 43 job cuts at its subsidiary Prafer. On 7 June, a draft social plan was presented to the works councils of the two entities. The first job cuts are expected by September 2020.
A former reorganisation entailing 349 job cutswas announced in 2015.
Eurofound (2020), Kloeckner Metals France, Internal restructuring in France, factsheet number 100908, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100908.
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