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.
Valeo, the French car parts maker, has announced it will lay off 1600 employees in France as part of a restructuring plan affecting 5000 employees worldwide. The group had said in its statement that 1,800 of the job cuts would be in other European countries. Valeo said the plan has been submitted to the European Works Council and that consultations will be held with employees' respresentatives. The restructuring is due to the difficulties the automobile industry is facing in the financial crisis.
Details of where the job cuts are to take place are emerging slowly, albeit from Trade Union sources and not company sources. On the dates given below, job cuts in different locations were announced by trade union sources:
- 27 Jan 2009: 116 out of 474 jobs at its plant in Mondeville, northwestern France.
Eurofound (2008), Valeo, Internal restructuring in France, factsheet number 67750, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67750.
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