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.
The group Villeroy & Boch has announced the reduction of 180 jobs on the Luxembourg site this year. This means more than a third of the work force. The European industry is suffering from a structural crisis due to a decrease in demand and an increase of the imports from low cost countries like China. The board has also confirmed that they are the victim of fakes and copies of the products Villeroy & Boch, made in China. These copies mean a loss of several million euros to the company. On the 28th of March 2006, the board of Villeroy & Boch and the representatives of the trade union have signed an act of nonagreement on the terms of the social plan that is being negotiated. This act will be sent to the national office of reconciliation who will try to reach a compromise between the parties. (The union wants 208 per month of seniority. The management of the company does not agree and offers only 100 and a bonus of 1.600 for each dependent child.)
Eurofound (2006), Villeroy & Boch, Internal restructuring in Luxembourg, factsheet number 63143, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63143.
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