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.
In February 2011, aluminum producer Constellium has announced that it is to cut around 127 positions out of a total of 200 at its Ham (Somme) site.
On 17 September 2011, the employees forced four managers to stay at the plant and negotiate a new social plan. However, a few days later, 86 accepted the old social plan in a ballot. The unions fear a future closure of the site.
Update 23-10-2011: On the 20th of October, Unions and management agreed on a social plan. 100 employees will be dismissed directly. 27 employees will be relocated to other sites. The company will pay 37,000 Euros to each worker accepting volontary departure and 25,000 Euros to dismissed workers.
Constellium is a world leader in the manufacturing of high-quality aluminum products and solutions. Constellium was created by the take-over of Péchiney and Alcan EP by Rio Tinto. The Rio Tinto group sold it to the US investment fund Apollo (51%) and kept 31%. Another 10% belong to the French Investment Fund (FSI).
Eurofound (2011), Constellium, Internal restructuring in France, factsheet number 72387, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72387.