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.
Japanese electronics manufacturer Sony announced its intention to cut 101 jobs in Zaventem. The decision is blamed on negative financial results of the group and the need to reduce costs. This is a part of larger plan to reduce costs worldwide.
Trade unions have not unveiled the strategy that they will pursue - they will however make attempts to reduce the number of layoffs at the works council where the 'Renault' procedure is to be launched.
Updated, 27/05/2014:As reported, an agreement is reached on the restructuring plan. The number of job losses is reduced to maximum 92 jobs (out of 294). Dismissed employees will receive a severance pay supplemented with a notice period and a bonus. This social plan will be in force until March 2017 and will be applied in all dismissals for economic reasons.
Job cuts will also take place in the sales and marketing department but the social plan does not apply on these redundancies.
Eurofound (2014), Sony Belgium, Internal restructuring in Belgium, factsheet number 76699, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76699.
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