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 21 April 2006, Polynorm, a manufacturer of parts for the automotive industry, announced that 102 jobs (out of 802 jobs) will be lost. According to the CEO Wim Spierings forced dismissals are inevitable. The demand for auto parts went down since the beginning of 2006. This situation is expected to be structural and thus brings about the need for reorganisation. The unions have demanded a decent social plan.
Eurofound (2006), Polynorm, Internal restructuring in Netherlands, factsheet number 63394, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63394.