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.
Sediver, specialised in the manufacture of electric insulators, has announced the closure of its Saint-Yorre site, following the building of a factory in China. The closure will make 286 people redundant. These redundancies add up in the Vichy region to the job losses following the restructuring of Giat. Local authorities have decided to engage in 'a judiciary battle'. In April 2004, the workers' representatives were trying to find a take over bid themselves and appealed to diverse political authorities in order to save the company. In February 2005, the Tribunal refused to accept the restructuring measures. Finally, the industrial tribunal ordered Sediver to reinstate 63 workers out of the 286 redundancies.
Eurofound (2004), Sediver, Offshoring/Delocalisation in France, factsheet number 59571, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59571.