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.
AGC Glass Europe, a manufacturer and distributer of flat glass for the construction industry, announced the intention to cut 173 jobs in Belgium. The decision to close one of four furnaces comes after months of uncertainty. According to media reports, 123 employees will be dismissed and 50 expiring contracts will not be renewed. The closure of the furnace is scheduled for 15 March.
According to the management, there are several reasons for the restructuring but the most important is the weakening of the entire glass market. AGC Glass Europe is seeing a huge decline of orders.
Currently, the unions are in negotiations with the management in an effort to reduce the number of layoffs. Industrial actions (as strikes) could take place in the next days.
The plant concerned is one of the four glass-kilns in Moustier-sur-Sambre, where 719 people are employed.
Eurofound (2012), AGC Glass Europe, Internal restructuring in Belgium, factsheet number 73115, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73115.