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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.42 - Aluminium production
98 jobs Number of planned job losses
Announcement Date
7 January 2021
Employment effect (start)
1 February 2021
Foreseen end date
31 December 2021
Description
On 7 January, the Commercial Court of Marseille appointed mining logistics specialist United Mining Supply (UMS) to take over the world leader in specialty alumina, Alteo Gardanne. UMS was the only group vying to take over the company. This takeover envigages the loss of 98 jobs out of the site's 480. The takeover is accompanied by an investment of €30 million (plus €10 million in working capital) to commission a new furnace for the production of very high value-added alumina. With this investment, which will be fully operational in five years, UMS intends to double the plant's capacity and increase its turnover from €177 million last year to €260 million.
UMS has a turnover of 300 million dollars and employs 4,000 people to manage, in particular, the export of minerals to China.
Eurofound (2021), Alteo Gardanne, Merger/Acquisition in France, factsheet number 102978, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102978.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
