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.
Timken, which manufactures antifriction bearings for the automobile sector, is to cut nearly 300 jobs from three of its sites in France this year. The cuts are a response to the crisis in the automobile industry.
165 cuts are foreseen at the site in Colmar, affecting both production and administrative sections. 1,000 workers are employed at this site. 58 job cuts are foreseen at Maromme, which employs just under 250 people, and 44 cuts from a total of 208 at Vierzon.
Timken is a US company, of which Timken Europe and Timken France SAS are subsidiaries.
Eurofound (2009), Timken France SAS, Internal restructuring in France, factsheet number 68630, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68630.
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