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.
ETAP a Belgian lighting manufacturer announced the dismissal of 67 of its employees. The main reasoning behind the layoffs is cost reduction. A combination of both the recent economic crisis and the transition process from fluorescent lighting to LED lighting has led to a significant decline in revenue figures in recent years. At the moment, the company is still figuring out how the dismissal procedure will be finalised. 47 Blue collar workers and 20 white collar will be forced to leave, how many of those will be direct dismissals is still unclear. The employer states it will try to figure out a solution that is agreeable for all concerned parties and hopes to do so before August this year. Unions are sceptic that this is possible within the short timeframe and will take the time they find necessary to negotiate. Since 2011 the company has gradually decreased its number of active employees, reducing it by approximately 20%. Other divisions of the firm situated in Portugal and Sweden face similar cutbacks.
Eurofound (2016), ETAP Lighting, Internal restructuring in Belgium, factsheet number 87658, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87658.
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