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.
Agfa Gevaert, a Belgian multinational specialised in the production and development of filming materials has announced it will dismiss around 530 employees at its facility in Mortsel. The main reasoning behind the effort is a larger cost cutting measure that was already announced in August. In total, the company seeks to reduce costs by 50 million euro in the coming three years. Both blue, white collar as well as professional and managerial staff will be affected by the dismissals. The company management states it will try to reduce direct dismissals as much as possible. Despite the announcement of cost saving measures, the extent of the dismissals has surprised a lot of employees, according to trade unions representatives.
Updated, 28/10/2025: Following negotiations with the trade unions the number of dismissals was ultimately reduced by 60 to 470 by the end of 2027. Furthermore, a social plan was established ensuring that dismissals are happening in a socially responsible manner through voluntary exit programmes or early-retirement schemes. However, despite this, the company management has also announced that it is very likely that additional budget cuts will be necessary in the future. This could potentially lead to more dismissals.
Eurofound (2024), Agfa Gevaert, Internal restructuring in Belgium, factsheet number 201949, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201949.
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