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 US group Wabco has announced the closure of a site in France at Claye-Souilly (Seine-et-Marne), with an initial job loss of 178. The plant, which specialises in the manufacture and sale of brake systems for trucks, has 231 employees. The plant will gradually be closed over two years. In this framework 178 positions will be cut in a first wave in June 2016. The company had already launched two job reduction plans in 2009 (86 job cuts) and 2013 (19 job cuts). The management explains that the manufacturer has to increase quality and technology and, in the same time, to reduce its prices by about 45%. As the volume of orders is decreasing, the plant can't invest and reduce its costs. It adds that the plant has reduced its costs from 15% since 2010 but that this decrease is not enough. The management will offer 53 positions within the company and support other employees to find a new position outside the company. This closure will coincide with another plant closure in the Netherlands.
Eurofound (2015), WABCO Vehicle Control Systems, Closure in France, factsheet number 84965, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84965.
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