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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24 - Manufacture of basic metals
205 jobs Number of planned job losses
Announcement Date
15 October 2008
Employment effect (start)
31 October 2008
Foreseen end date
31 December 2010
Description
Nyrstar is a zinc manufacturer set up one year ago from the merging between the Belgian group Umicore and the Australian group Zinifex. The company announced its intention to cut 205 jobs on its Belgian sites of Balen and Overpelt before the end of 2010. Because of the decrease in demands, the increasing cost of energy, the increase of the Euro and the global consequences of the financial crisis, the company is actually overproducing and its turnover is decreasing. Savings are then necessary.
Sources
15 October 2008: De Tijd
16 October 2008: L'Echo
Citation
Eurofound (2008), Nyrstar, Internal restructuring in Belgium, factsheet number 67283, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67283.
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