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.
Doosan, a South-Korean conglomerate has decided to close its facility in Waterloo. This particular facility was responsible for the production of excavators and dump trucks. The Doosan Group seeks to transfer and centralise their production capabilities in the Czech republic, where another production site already exists. Because of this the site in Waterloo will become obsolete. Both white collar and blue collar workers will lose their jobs as a result of the closure of the Walloon factory. Trade unions have not been informed as to date, and they are still awaiting an invitation from the employer to start up negotiations. The relocation will have an impact on other local subcontractors as well. The Doosan Group has been acquiring several companies for the past 15 years across the globe, however, their activities in Belgium are in decline. At the beginning of 2015 the factory in Frameries (province of Hainaut) was closed as well, which led to the dismissal of 313 employees.
Eurofound (2016), Doosan, Offshoring/Delocalisation in Belgium, factsheet number 87513, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87513.