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.
Michelin, the multi-national producer of tyres, has announced that the operations of its subsidiary Kléber Toul in Toul are to be closed with the loss of 826 jobs. The Toul site produces mid-range tyres for passenger vehicles, and Michelin has stated that the plant is not sufficiently competitive, and that production costs at the plant are 50 per cent higher than those of the plant’s Asian competitors. The factory is due to close between October and December 2008. Michelin has pledged to support those employees affected, and has stated that efforts will be made to offer affected workers alternative employment within the group and help in finding alternative employment. Local union representatives have strongly criticized the closure, and have stated that the factory has suffered from a lack of investment. The Michelin Group has a history of industrial restructuring, and in January 2007 announced a re-organization of industrial activities in several Western European countries.
Eurofound (2007), Kléber Toul, Closure in France, factsheet number 65886, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65886.