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.
French energy firm Total's petrochemicals unit, which employs 2,300 people in France, is to cut 300 jobs between November 2006 and November 2011. The affected units are Carling (Moselle), in the east of France and Gonfreville (Seine Maritime), in the north of the country.
At the same time, it is planning to invest 400 million euro by 2011 to bolster its business in the face of rising overcapacity and sluggish European demand. Total petrochemicals announced the cash would be invested in two French industrial sites (Gonfreville and Carling) to upgrade and remodel them to improve their performance. This industrial project aims to improve Total Petrochemicals France's ability to ride out periods of unfavourable economic conditions.
Eurofound (2006), Total Petrochemicals France, Internal restructuring in France, factsheet number 64061, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64061.