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.
Gates is about to cut 225 jobs at its production plant in Aalst, Flanders, which manufactures rubber tubes. Because of a 50% decrease in demand for rubber tubes, the company decided to close its production site located in the north of Belgium, which employs 177 blue-collars and 48 white-collars. In total, 225 jobs will be lost while, for now, the distribution center is not concerned. Gates provides rubber tubes to the automobile and manufacturing industries.
Eurofound (2009), Gates Europe, Closure in Belgium, factsheet number 68184, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68184.