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.
Syensqo, a Belgian specialty chemicals group, has announced the reduction of around 200 jobs worldwide.
So far, the company has revealed that 7 positions are expected to be cut in Belgium, where the company has offices in Audenarde and Kallo, and a headquarters and research centre in Brussels. Half of the job cuts will be achieved through retirements, while the other half will be partly offset by the creation of 25 new roles resulting from the 2023 demerger with Solvay.
The layoffs are part of an accelerated restructuring programme prompted by global economic uncertainty and trade tensions, particularly between the United States and China. The decision comes amid declining demand in key sectors such as electronics, automotive, and construction. The cost-saving plan aims to generate over €200 million in annual savings by the end of 2026.
Syensqo was established in December 2023, through the spin-off from Solvay. The company employs about 13,000 people worldwide.
In November 2024, Syenqo announced a plan to cut up to 350 jobs worldwide Syensqo 2024-WO.
Eurofound (2025), Syensqo, Internal restructuring in World, factsheet number 202832, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202832.
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