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.
ExxonMobil, an American oil and chemical company, announced the permanent shutdown of its chemical units at its Gravenchon site in Normandy, France, resulting in 677 job cuts. The closures affect the steam cracker and downstream polyethene, polypropylene, and adhesives units. The shutdown is planned for 2024, with layoffs occurring in two phases: the first wave expected in April–May 2025 and the second in November 2025.
The company is restructuring due to persistent financial losses. Operations at the nearby Esso refinery in Port-Jérôme-sur-Seine will continue, supplying fuels, lubricants, and other products to the French market.
Eurofound (2024), ExxonMobil, Closure in France, factsheet number 204002, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204002.