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.
Auxitrol Weston, which designs pressure and temperature sensors and probes for long-haul aircraft, has announced a reorganisation with 124 job cuts out of a total workforce of 437. The company has been hit hard by the COVID-19 health crisis and by the economic consequences for the aeronautics industry. The health crisis swept away years of growth in just a few months.
Auxitrol Weston has already dismissed employees with fixed-term contract and temporary workers. The company has also introduced short-time working, which will continue until March 2021. Employee representatives will start negotiations on 5 October. The first redundancies could take place in February 2021. It is difficult to know the final number, although the 124 jobs at risk the maximum number of expected redundancies.
Eurofound (2020), Auxitrol, Internal restructuring in France, factsheet number 101952, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101952.
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