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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
100 jobs Number of planned job losses
Announcement Date
27 March 2009
Employment effect (start)
1 April 2009
Foreseen end date
31 December 2009
Description
Punch Powertrain, a manufacturer of continuously variable transmissions and other car components (including components for hybrid cars), is about to cut 100 jobs at its site of Sint-Truiden (Flanders). The management intends to proceed to a collective restructuring among every type of employees. The company is severely affected by the crisis of the automobile industry and will consequently reduce its production activity.
Sources
28 March 2009: L'Echo
Citation
Eurofound (2009), Punch Powertrain, Internal restructuring in Belgium, factsheet number 68631, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68631.
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