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.
Eaton Industries, an American manufacturer of electrical equipment, cuts 300 jobs at its plant in Hengelo. The Dutch locations of the company have not been profitable in recent years and Eaton has decided to move part of the production to Hungary and Turkey. The job cuts will affect 240 employees with permanent contracts and 60 employees with flexible contracts.
In recent years, there have been multiple reorganisations at the Dutch branch of Eaton; a social plan is still in place based on a previous reorganisation. The factory in Hengelo was known as Holec before it was taken over by Eaton. In the past 5 years it has been downsized from 1,000 employees to only 400 after this new reorganisation.
Eurofound (2020), Eaton, Offshoring/Delocalisation in Netherlands, factsheet number 101124, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101124.
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