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 3 September 2005, management of Sonaca announced a restructuring plan which will affect 300 employees. Management of the aeronautics company based in Gosselies, was helped by IBM consultants to develop the restructuring programme. Other measures are being discussed: increasing working hours, decreasing salary levels.
The cost cutting measures will be implemented in order to minimize the effect of an expected decrease of the company's turnover.
Eurofound (2005), Sonaca, Internal restructuring in Belgium, factsheet number 62607, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62607.