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.
The British multinational Wagon Automotive, a manufacturer of vehicle body structures, has adopted a restructuring plan under which 15% of its production must come from countries with low wage costs. As part of this restructuring, the Fleurus-based plant, specialised in the production of technical equipment for cars, is threatened. The plant currently employs 160 people. Employment effects are expected to start in 2007 but social partners are negotiating a social plan. Updated information on 17 November 2006 reports that following a couple of weeks of negotiations, 80 people (around the half of the current workforce) have accepted the social plan.
Eurofound (2006), Wagon Automotive, Offshoring/Delocalisation in Belgium, factsheet number 63556, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63556.