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.
Ford announced another restructuring plan affecting between 3,000 and 4,000 jobs at the plant of Genk in Belgium. This plan adds up to the former restructuring scheme announced in May 2002, affecting 1,400 jobs and which is still pending. The induced employment effects (suppliers, etc.) could lead, according to BNB, to additional job losses ranging from 1,500 to 3,000. There is an agreement on pre-pension for the 50 year old workers and 55 year old employees. 43 jobs will also be removed on the site of Lommel, but without direct dismissals. The social agreement states that management expects 2,770 voluntary leaves. 2,450 workers have agreed on voluntary leave (825 pre-pensions and 1,625 departures); those who decided to leave the company before 29 December 2003 will receive a bonus of 4,000 euros. In March 2004, all the voluntary redundancies had been found.
Eurofound (2003), Ford, Internal restructuring in Belgium, factsheet number 59349, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59349.