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.
Dutch car manufacturer VDL Nedcar is to cut 2000 jobs in its Born establishment due to its inability to find a new client after the announced departure of BMW, its only client.
VDL Nedcar currently still assembles cars under contract to BMW. However, the contract with the German car brand expires in March 2024. The company names the turbulent circumstances on the global car market, as well as the overcapacity in the industry as another reason for the restructuring.
To keep as many jobs in Born as possible, VDL is diversifying its activities around the Nedcar plant. For instance, it is setting up a Mobility Innovation Centre (MIC) where it plans to produce batteries, among other things, and wants to move other operating companies focused on mobility to Born. This is expected to result in several hundred jobs being retained, on top of the 450 that are to remain at the factory. If BMW production ends in March, all employees still working will receive a 'Finish with Pride' bonus of up to €7,500 per person, in addition to the social plan in which financial arrangements and assistance with redeployment are arranged.
A previous restructuring at VDL Nedcar in which 1800 workers were dismissed in June 2023 due to the same reason has been recorded in the ERM events database VDL Nedcar-2023-NL.
Eurofound (2023), VDL Nedcar, Internal restructuring in Netherlands, factsheet number 200481, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200481.
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