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 management of the French superstores Carrefour announced its intention to close 16 GB stores in Belgium. The GB, a well-known network of department stores in Belgium, was sold to the French group in July 2002 with the objective to increase the turnover of the network. Some GB stores were transformed in superstores Carrefour and some others kept their original name. Since last Wednesday, 8 stores in Flanders, 7 in the French-speaking region and 1 in Brussels will have to close down due to the fact that they are not cost-effective in the network and due to the necessity of the group to reduce its costs. This closing process will cause the loss of 900 jobs including 100 employees working in the central services of the group on 5,502 people employed in all the GB units. The management promised to reduce the scope of the direct dismissals by relying firstly on the early retirement option. However, the trade unions fear that these closures will gave rise to new franchises stores in which the working conditions of the workers are not under the jurisdiction of the collective agreements of the retail trade joint committee and therefore would be more precarious. The trade unions are willing to wait until September before starting any discussions and negotiations concerning the collective redundancies. 15 October 2007 A first agreement was concluded between the management and the trade unions. Their aim is to avoid as much as possible any direct dismissals. Different job reductions measures would be first applied: such as early etirement, part-time jobs,... Moreover, some shops will be transformed on franchised store in which the employees will not lose their job but will benefit from more precarious working conditions.
Eurofound (2007), Carrefour Group, Internal restructuring in Belgium, factsheet number 65516, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65516.
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