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 the 12th of October 2011 Arcelor Mittal announced to end part of their activities in Liege which will lead to 600 redundancies. According to the head management of Arcelor Mittal, two smelters will be stopped.
The decision is said to have important impacts on the whole region and further indirect job losses, according to media reports. Metal has been an important sector for the Liege area for many years.
In 2008 the Walloon government had given advantages to Mittal for their business relaunch. Less than three years later, the Belgian branch of the group has to close due to the impact of the crisis.
The redundancy procedure has been launched and the negotiations have taken a long time given the anger of the unions and the willingness of the public authorities to make Mittal pay at least in part for the social consequence of its decision, according to media reports.
Update 04.07.2012: After a year of discussion, the decision to close was confirmed. Between 581 and 795 jobs will be cut. It is reported however, that the Belgian unions may file an appeal to the Labour court in order to prove that the closure is illegal.
Eurofound (2011), Arcelor Mittal, Closure in Belgium, factsheet number 72678, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72678.