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.
In July 2011, the management of MBDA, a global missiles company, announced to its central Works Council that it will cut the workforce by 400 by 2015. The management said there would be no social plan since the redundancies will occur through natural departures. It is expected that by 2015, some 500 people may retire and another 200 could leave the group through attrition. Furthermore, according to a union, the management may not renew the contracts with temporary and fixed-term workers.
However, the departure plan may also allow for hiring some 300 people within four years.
According to the management this departure plan is launched to make face to a 30 per cent decrease of state's weapons orders. MBDA, a world leader in missiles and missile systems, is a multi-national group with over 10,000 employees in France, the United Kingdom, Italy, Germany and the United States. MBDA has three major aeronautical and defense shareholders - BAE Systems (37.5%), EADS (37.5%) and Finmeccanica (25%), and is the first truly integrated European defense company. In 2010, the Group recorded a turnover of 2.8 billion Euros, produced over 3,000 missiles and achieved an order book of 10.8 billion Euros. MBDA works with over 90 armed forces worldwide.
Eurofound (2011), MBDA, Internal restructuring in France, factsheet number 72548, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72548.
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