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.
Vallourec, a French manufacturer specialised in seamless stell tubes, announced 2400 job cuts at its production sites in Düsseldorf-Rath and Mühlheim an der Ruhr, North Rhine-Westphalia, Germany.
The job cuts are due to the closure of Vallourec's production sites. The company had announced on 18 May 2022 that it would cease production by the end of 2023. In Düsseldorf-Rath, 1650 jobs are affected by the closure and 750 jobs in Mühlheim an der Ruhr. Vallourec explained that the production of seamless steel tubes in Germany was no longer economically viable. A second plant in Düsseldorf-Reisholz had already been closed in 2020.
Concerning the job reduction measures, Vallourec announced negotiations with IG Metall and the works council (Betriebsrat) to achieve a reconciliation of interests and a social plan. IG Metall declared that it would strive for a good social tariff.
Vallourec Germany, headquartered in Düsseldorf, Germany, is a subsidiary of the French Vallourec Group. Vallourec employs around 17,000 people in 20 countries and 40 production sites and has €3.2 billion in revenue.
Eurofound (2022), Vallourec Germany, Offshoring/Delocalisation in Germany, factsheet number 106814, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106814.
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