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.
Samsonite, an international producer and retailer of luggage and suitcases has announced it will be restructuring its facility in Oudenaarde. In total 94 employees will be facing collective dismissal, 56 white collar and 38 blue collar workers. In addition up to 66 contracts will not be renewed, either those of employees going on pension or temporary contracts. The reasoning behind the restructuring is strongly related to the current Covid-19 crisis. Because of the closing of the borders, travelling has been reduced to a minimum in the past weeks. Additionally the need for items like briefcases and backpacks has reduced as well because of the general reduction in mobility. The total European revenue of the company has decreased by 62% compared to the same period last year. According to the travel sector, the situation will take several years to return to normal and probably not before 2023. Trade unions were expecting downsizing, however not to such a large extent. Together with the company management they are currently looking at and negotiating possible solutions.
Eurofound (2020), Samsonite, Internal restructuring in Belgium, factsheet number 100932, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100932.
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