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 Nestlé Waters has announced a restructuring plan for its sites in Vittel and Contrexeville in Eastern France, which produce and distribute mineral waters. The company foresees the loss of 250 jobs, by the end of 2009, and plans to invest in the two plants in order to modernise the production equipment, and to offer training.
According to management, it will help improving the plants' overall competitiveness because both sites are in a critical situation since their profitability has been declining over the past years.
The measure will affect employees of 55 and over. The redundancies will be made on a voluntary basis, and the persons concerned will avail of early retirement whereby they will continue to receive 80 per cent of their salary after leaving the company.
The restructuring plan has been presented to the unions, and negotiations are anticipated.
Eurofound (2008), Nestlé Waters, Internal restructuring in France, factsheet number 66578, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66578.
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