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.
Altadis, a Franco-Spanish manufacturer of tobacco products, which was bought out a few years ago by British Imperial Tobacco, announced that it is to cut 2,440 to 2640 jobs across Europe by the end of 2010. As of June 2008, 1,060 jobs will be lost in France following the closure of two plants, respectively in Metz and Strasbourg, and the reorganization of other sites (120 jobs will be lost in Paris and 133 in Aubrais) involving the merging of the commercial activities of Altadis and Imperial Tobacco.
The restructuring will affect other European countries: 830 jobs will be lost in Spain, 260 in the United Kingdom, 250 in Germany, 100 in Russia and 140 in Italy, Belgium, Ukraine and Slovakia. Only Poland will benefit from the restructuring with 200 jobs created as a result of the relocation of activities from Berlin. Imperial Tobacco plans to invest EUR 600 million to implement this reorganization, and in doing so it expects to save EUR 300 million by 2010.
Eurofound (2008), Altadis, Internal restructuring in European Union, factsheet number 66768, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66768.
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