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 newly established Belgian media group Mediahuis, a merger between Concentra group and Corelio group, is to cut 205 jobs. As announced, the cost-cutting restructuring plan is due to overcapacity.
According to the sources, the Renault procedure will be launched very soon and the unions will try to minimise the number of redundancies.
Corelio group is best known for its newspapers De Standaard, Het Nieuwsblad/De Gentenaar and its French title L'Avenir and Concentra group for its newspapers de Gazet van Antwerpen and Het Belang van Limburg.
Update 5 April 2014: In the first week of April 2014, a social agreement was reached concerning the restructuring plan. The number of threatened jobs is reduced to 138 full time jobs. A possibility of voluntary early retirement is foreseen from the age of 55 years on.
Eurofound (2013), Mediahuis, Merger/Acquisition in Belgium, factsheet number 76157, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76157.