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.
Car manufacturer Volvo announced its intention to reduce its workforce at the Ghent plant by 300 employees. The job cuts affect agency workers whose contracts will not be renewed at the end of the year.
According to the management, as opposed to previous years, the customer demand is declining and they need to rebalance their production output. There is currently no reaction from the trade unions.
Eurofound (2012), Volvo Cars, Internal restructuring in Belgium, factsheet number 74386, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74386.