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 15 June 2005, management of BASF Belgium announced a restructuring programme. 200 employees will lose their job at the Feluy factory. The German chemical firm decided to close all non profitable production lines, reducing its production capacity by 80% in Belgium. Management blamed the decision on the current European economic situation, as well as the arrival of new Asian competitors. BASF is to start negotiations with unions representatives in order to find out alternative measures to lay-offs. 100 employees should be able to relocate to Antwerp.
Eurofound (2005), BASF, Internal restructuring in Belgium, factsheet number 61756, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61756.