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 9 July 2011, the management of Dayco-Sacic announced the closure of its Belgian site in Ghlin with the consequent loss of 120 jobs (including 20 white collar jobs). The management intends to keep only two locations in Europe (Italy).
This announcement came as a surprise to the unions as the Ghlin location has been profitable since 2009. The management blamed the closure on the high labour costs in Belgium (around 30 % higher than in Italy).
The so-called 'Renault' process has been launched - this requires a first phase of consultation, whereby the employer presents the restructuring plan and the trade unions try to find alternatives, and a second phase during which a social plan is negotiated.
Eurofound (2011), Dayco-Sacic, Closure in Belgium, factsheet number 72180, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72180.
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