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.
Corus Packaging Plus (CPP), a supplier of light gauge steel for packaging and non-packaging applications, announced the closure of its factory at Bergen with the loss of 260 jobs. The job losses are attributed to the difficult market situation for packaging steels.
On 18 April the Board of the Norwegian subsidiary decided to close the Norwegian factory which has lost approximately NOK 150 million in 2006 and 2007. More recently, the group announced it would cut capacity on tinplate production lines by 150,000 tonnes before the end of the year.
The management announced to the media that the company now will discuss alternative solutions with the union, among others if there are options for alternative production at the plant. The employees will also be offered severance pay and early retirement pension.
According to the unions there have been continuing discussions over the last years on improving productivity, and they have been told that the Norwegian factory has been a pioneer within the group. The possibility of a closure was not put forward until the day before the Board meeting, and the unions accused the management of having hidden their real agenda for months. The final decision will be taken at the Board meeting scheduled for 20 May.
Eurofound (2008), Corus Packaging Plus Norway, Internal restructuring in Norway, factsheet number 66558, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66558.
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