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.
Sonaca, an aerospace construction company located in Gosselies in the south of Belgium is about to cut 450 jobs. 300 blue-collars and 150 white-collars could be concerned. The company is restructuring due to losses from poor performance over the last few years and the impact of the financial crisis. Through internal restructuring, the company expects to balance the level of activities (decreasing) and the number of workers employed. The Belgian trade unions claimed they will not accept any direct dismissals and expect the jobs lost will concern workers at the end of their career who should receive early retirement and workers with a fixed-term contract. The specifics of the dismissals should be discussed by the company and the trade unions during the next weeks.
Eurofound (2009), Sonaca, Internal restructuring in Belgium, factsheet number 69494, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69494.