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.
As announced on 25 February 2019, the French steel pipe manufacturer Vallourec will be cutting 600 jobs in North-Rhine Westphalia (NRW) due to internal restructuring. Cuts are necessary due to increasing competition from China as well as a decreasing market for steel pipes. According to Vallourec, exit-agreements, mainly early-retirement programmes, have been made with 440 employees. The job reduction will affect all plants in NRW, however an exact distribution as well as a timeframe have yet to be announced.
Currently, Vallourec has 19,000 employees worldwide and 4,000 in Germany.
Eurofound (2019), Vallourec , Internal restructuring in Germany, factsheet number 97405, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97405.
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