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.
On 11 March 2009 German tyre producer, Continental, announced its plan to close its tyre plant in Clairoix in nothern France with the loss of 1,120 jobs. The layoffs are to be implemented by the end of 2009. In June, Continental reached an agreement with trade unions, which refused the initial proposal of 17,000 EUR in compensation. The company will give the laid-off workers a one-off severance payment of 50,000 EUR.
With sales of more than €24 billion in 2008, the Continental ranks among one the top automotive suppliers worldwide. The group employs about 133,000 people in 35 countries worldwide.
Eurofound (2009), Continental, Closure in France, factsheet number 69088, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69088.
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