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.
On Thursday 2 December 2004, management of the automotive replacement glass company AGC Automotive, announced a third of its 840 workers would lose their jobs by the end of 2006. 284 jobs of the Fleurus site (ex-Splintex and now part of the Japanese firm Asahi Glass) are to be cut as a result of a reorganisation of the production. Two factories will specialise in making laminated glass and toughened glass for cars while machinery producing side windows will be shut down. The workers' reactions after the announcement were violent. Managers were taken hostages for two days and strikes were announced. On 18 February 2005, after 80 days of strike, no agreement has been reached between workers and management. According to the newspaper La Libre Belgique, if no agreement is to be achieved, the European Management of AGC could decide to close the plant by 2007 and cancel the €9 million investment initially planned. On 15 March 2005, an agreement was finally signed and 249 jobs are to be cut (of which 75 direct dismissals) rather than the original 284.
Eurofound (2004), AGC automotive, Internal restructuring in Belgium, factsheet number 60826, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60826.
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