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.
French manufacturing group of seamless tubes Vallourec has announced it will cut about 2,950 jobs worldwide, including 320 in France. The closure of production sites in Germany, which did not find a buyer, will impact the French site of Saint-Saulve (Nord) which will lose its "heat treatment line". Part of the activities of the German site will be moved to Brazil. Of the 320 jobs lost in France, 65 jobs will be cut at the headquarters at Meudon (Haut-de-Seine). 250 will be lost in the north of France: about 100 employees at the Saint-Saulve site which will close, around 100 at the Aulnoye-Aymeries site and the others at the shared services centre in Valenciennes. The first departures are planned at the end of 2022 and will be spread out over the whole 2023. The president of the Haut-de-France region has obtained the organisation of an emergency meeting with the representatives of the employees and the managers.
Four previous restructurings were recorded in the ERM Database, in 2020 with 350 job cuts (Vallourec-2020-FR); in 2015 with 550 job cuts (Vallourec-2015-FR); in 2014 with 145 job cuts (Vallourec-2014-FR) and in 2004 with117 job cuts (Vallourec-2004-FR).
Eurofound (2022), Vallourec, Closure in France, factsheet number 106813, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106813.