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.
DMC (Dollfus Mieg et Cie), a France-based manufacturer of embroideries, basic materials and accessories for handicrafts, and fabrics for sportswear, has announced that it is to cut 208 of all 870 jobs between April 2008 and April 2009 at the two subsidiaries - DMC tissus and Arts du Fil - in the Haut-Rhin near Mulhouse.
The DMC tissus subsidiary producing velvet and sportswear is to cut 141 jobs at three different production sites. The site Logelbach (near Colmar) will close down with the loss of 80 jobs; 39 and another 22 jobs will be cut respectively at SAIC Velcorex (Saint-Amarin) and Illzach (the administrative headquarter). The Arts du Fil subsidiary producing handicraft materials and accessories is to cut 67 jobs at its sites in Mulhouse and Illzach. DMC tissus currently employs 359 and Arts du Fil employs another 511.
The job cuts are attributed to the negative consequences of the the weak US dollar and the fierce competition from Asian imports which have grown by 65% in the European market over the past two years. The redundancies are part of the 10-year restructuring programme reducing the manpower in the region by 2/3.
Eurofound (2008), DMC, Internal restructuring in France, factsheet number 66200, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66200.
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