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.
Total Petrochemicals, a company operating in the manufacturing of several types of polystyrene and based in Feluy (Wallonia), announced its intention to cut 72 jobs. The job cuts are due to the fact that the Italian Polimeri Europa, an important client of the company, decided to end their contract. As a result only two production lines (out of three) will be maintained. Initially 130 jobs were at risk but according to the trade unions, "the management made efforts to limit the social consequences, reducing the job losses to 72 and avoiding direct dismissals."
Eurofound (2010), Total Petrochemicals, Internal restructuring in Belgium, factsheet number 70491, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70491.