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 1st August, the metal manufactuer Volt will cease its production after having been placed in receivership in February 2013. Part of the company will be taken over by Magna Lorraine Emboutissage, which will employ 26 of the former Volt’s workers. 63 permanent employees will be dismissed while 21 employees on short-time or temporary contract had their contracts breached.
The company has had significant losses since 2012. A total of 110 employees have lost their job, even though 26 of them were later hired over by Magna Lorraine Emboutissage.
Eurofound (2013), Voit France, Bankruptcy in France, factsheet number 75726, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75726.