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.
German heating technology company Vaillant has announced that it will cut about 700 administrative jobs worldwide.
About 300 positions are expected to be cut at its headquarters in Remscheid, Germany Vaillant-2024-DE. The company intends to avoid compulsory redundancies. Instead, vacant positions will not be filled, and early retirement schemes are also planned. The conditions of the programme will be negotiated with employee representatives according to local regulations.
The aim is to adapt the company to the new demand situation and customer requirements. According to the sources, the demand for heating technology in Europe has been decreasing.
Vaillant operates in about 20 countries and employs 17,500 people worldwide.
UPDATE 16/07/2024
Vaillant has announced that about 250 jobs will be cut at its subsidiary Saunier Duval in France in the light of its worldwide restructuring programme Saunier Duval-2024-FR.
Of the 250 jobs affected, 180 to 190 will be production-related, with the remainder in support functions, management and technicians. Negotiations on the social plan (PSE) will start in September, with a view to implementation in early 2025. If voluntary redundancies are not enough, compulsory redundancies are planned from April 2025 onwards. Management also wants to promote age-related measures with early retirements. To minimise the number of job cuts, the CFDT union is proposing to relocate certain activities that have been exported to other European countries, such as Slovakia.
Eurofound (2024), Vaillant, Internal restructuring in World, factsheet number 201232, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201232.
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