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.
Bekaert Textiles announced its decision to restructure its plant in Waregem which will cause the loss of 280 jobs. The plant manufactures mattress fabric and intends to reduce its activities to knitting and weaving. The internal restrucuring is explained by an increasing foreign competition with an important increase of manufacturing and employment costs.
See also EIRO article http:https://www.eurofound.europa.eu/eiro/2008/10/articles/be0810039i.htm
The Belgian authorities applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2008), Bekaert Textiles, Internal restructuring in Belgium, factsheet number 67143, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67143.