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.
Van Hool, a Belgian producer of buses and other transportation vehicles has announced it will be restructuring its facility in Belgium, leading to significant dismissals of 1,116 employees.
The company has been in a difficult financial situation for several years now and has already shifted some of its manufacturing capabilities to other facilities in North-Macedonia. Now, the manufacturing will further be offshored to North-Macedonia.
In recent weeks, a solution for the company and its employees was sought, as the facility provided work for approximately 1000 employees in the region. However, at the time of writing, no solution was found, as several complexities have deterred potential acquirers from investing and/or taking over the facility.
The extent of direct job loss has been that significant, that the Flemish government has decided to step in to facilitate and support possible solutions that are brought to the table.
UPDATE 08/04/2024: On the 8th of April, the company officially declared bankruptcy for its facility in Koningshooikt. In total 1600-1800 are estimated to disappear. Following the bankruptcy, bus builder VDL (Netherlands) and trailer manufacturer Schmitz Cargobull (Germany) have come to an agreement to possibly try a restart of the production. However, there seems little chance of VDL continuing bus production in Belgium, and the job loss will ultimately remain significant.
UPDATE 11/06/2024: In a press release VDL group announced that it will ultimately only retain 250 jobs at the facility in Koningshooikt. Additionally, after weeks of negotiating with the trade unions, agreements have been made with regards to the employment conditions of those that will remain at the facility.
Eurofound (2024), Van Hool, Offshoring/Delocalisation in Belgium, factsheet number 200985, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200985.
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