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 group Tessenderlo has announced a restructuring plan in order to improve the profitability of its principal division, the chemicals unit. The second largest employer in the Province of Limbourg says this move is necessary because of rapidly changing market conditions, increased international competition and the high price of the raw materials.
In practical terms it will mean a loss of 240 jobs in Europe, of which 197 will be in Limbourg, where the group currently employs 1,419 people (out of a total of 2,169 in Belgium). The group Tessenderlo explicitly states that it has no intention to transfer its activities to low-wage countries.
Eurofound (2006), Tessenderlo, Internal restructuring in European Union, factsheet number 63685, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63685.