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.
FrieslandCampina, a Netherlands-based dairy production company, has announced 1,000 job cuts in the Netherlands, Belgium and Germany. The majority of the job cuts will occur in the Netherlands though the exact number of redundancies per country is still unclear. FrieslandCampina has already announced that the company's financial department will be moved from Wolvega to Budapest, causing at least 170 job cuts in the Netherlands. The company aims to cut most jobs through natural attrition, but forced dismissals are possible. Discussions with unions about the reorganisation plans are ongoing.
The company calls the reasons for the restructuring 'a perfect storm' of several events. In addition to the COVID-19 pandemic, FrieslandCampina has experienced difficulties in export markets such as Hong Kong, China and Nigeria. Furthermore, profit margins have tightened in its home markets in the Netherlands, Belgium and Germany, due to new dairy products on the market as well as high development costs of new products.
FrieslandCampina is a cooperative dairy company to which 75% of all Dutch dairy farmers are associated.
Updated, 2/12/2020 FrieslandCampina has announced that, as part of the restructuring plans, the production of powdered milk at the plants in Dronrijp and Gerkesklooster will be stopped, adding another 57 job cuts in the Netherlands. The news follows the 195 redundancies in Germanyand the 211 redundancies in Belgium.
Eurofound (2020), FrieslandCampina, Offshoring/Delocalisation in Netherlands, factsheet number 102589, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102589.
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