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.
US-based multinational specialized in food production Cargill has announced that it will cut about 8,000 jobs worldwide.
So far, the company revealed that 164 roles are expected to be cut at its Belgian locations Cargill-2024-BE. The main group of employees facing dismissal are technical staff at the facility in Mechelen-Vilvoorde, with 89 job cuts.
The company management states that in total approximately 5% of its global workforce has to be reduced, which represents 8,000 jobs. The majority of the cuts will be carried out by the end of 2024. While Cargill justifies its decision with the decline in raw material prices, local trade unions are dissatisfied with the decision as they state that the company is healthy and not facing financial issues.
Cargill operates in 70 countries and employs about 160,000 people worldwide.
Eurofound (2024), Cargill , Internal restructuring in World, factsheet number 202117, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202117.
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