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 company Federal Mogul who last year took over the automobile valve manufacturing plant TRW of Schirmeck (Bas-Rhin), has announced an employment saving plan to remove about 130 of the 289 jobs in its plant the next two years. The plant must respond to a decrease in demand of valves for gasoil motors. The production of valves could decrease from 19 million units in 2015 to 10 million by 2018 if the plant does not increase its productivity. The management has opened discussion with other plants in the sector with the aim to relocate dismissed employees. The plant works mainly for the French car manufacturer Renault and PSA Peugeot-Citroën. In April 2014, Federal Mogul had announced the closure of its site of Chasseneuil-du-Poitou with 241 job cuts (see previous ERM Factsheet).
Eurofound (2015), Federal Mogul Valvetrain, Internal restructuring in France, factsheet number 85224, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85224.
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