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.
Copeland, a manufacturer of heating, cooling and refrigeration technology, has announced plans to restructure its facility in Welkenraedt. In total, 227 of 316 employees are at risk of losing their job.
The transition to a new generation of compressors is increasing the pressure on prices and production costs, according to the company management. Despite considerable efforts to reduce costs at the Welkenraedt site, the facility is no longer considered to be competitive within the European market.
Only the research and development department will remain active at the site. Additionally, Copeland intends to build a new research and development centre in the region.
Copeland is a branch of the US-based multinational Emerson Electric group.
Updated, 20/02/2025:: 198 employees at Copeland Welkenraedt will ultimately lose their jobs, as announced at a recent works council meeting. Production is set to end on 30 May 2025, with management committing to keep employing all staff until then. The second phase of the Renault procedure is now starting, focusing on negotiations over a social plan and redundancy terms. Union ABVV-FGTB says it will seek the best possible exit conditions.
Eurofound (2024), Copeland, Closure in Belgium, factsheet number 201617, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201617.