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.
The management of Caterpillar Belgium, a company specializing in the manufacturing of construction machines, announced its intention to downsize employment. 200 fixed-term contracts will not be renewed and further cuts are not excluded. The decision is due to the 30% decrease compared to the financial objectives for the second half of 2012.
Unions and the management will analyse the situation and try to find solutions to keep a maximum of workers in the plant or put some of them on temporary unemployment and hence reduce the number of jobs cut.
Eurofound (2012), Caterpillar Belgium, Internal restructuring in Belgium, factsheet number 73946, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73946.