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.
The automotive supplier Edscha has announced the closure of its factory at Briey (Meurthe-et-Mosellle). The closure will result in the loss of 128 jobs. Edscha belongs to the Spanish automotive supplier Gestamp. After a long negotiation on the social plan and the support of the labour inspectorate, management and unions have agreed on 1 October 2014 on several measures and increased the social plan budget from 2,2 million to more than 3,8 million euro. Prior to the agreement, employees had blockaded the factory and prevented the group from transferring production and machinery to other EU sites. The Spanish group received a financial support from the Lorraine region in 2010 of about 300,000 euro with the commitment to maintain employment for a three year period that ended in December 2013. Before the announced closure, management had proposed a reorganisation with increase of working time, removal of days off, seniority allowance and of the 13 month bonus, as well as 40 to 45 job cuts. The employees rejected this plan.
Eurofound (2014), Edscha, Closure in France, factsheet number 78036, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78036.