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.
Milcobel, a dairy cooperation active in Belgium and France has announced it will be dismissing 130 jobs across Belgium. In particular divisions that are specialised in the production of milk powder will be affected by the measure (most of those are situated at the facility in Kallo). In addition to this facility, support and administrative functions in several other plants are at risk.
In addition to the dismissals, the company is also taking other austerity measures. For instance, management bonuses will not be paid, new vacancies will be limited and the company will scale back the number of external consultants.
The main reasoning behind all these measures are the company losses incurred throughout 2023. The company management states that a highly turbulent global dairy market requires more flexibility. According to the management, in its current structure, the company cannot immediately pass on increased costs for energy, raw materials, services and wages.
Milcobel represents about one third of Belgian dairy farmers. 1,500 people work in the Belgian branches.
Eurofound (2024), Milcobel, Internal restructuring in Belgium, factsheet number 201094, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201094.