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.
Sylvania, a producer of halogen lights and since last year a subsidiary of the Chinese Shanghai Feilo Acoustic group has announced the closure of its production facility in Tienen. 110 blue collar and 60 white collar workers will lose their jobs because of the closure. Approximately 30 workers will continue working for the company, mainly in R&D and support services. Union representatives indicate that they and the employees were surprised by the decision. Next week negotiations regarding the form of the dismissals will start. The average age of the workers at the plant is over 50 years old and average tenure is around 29 years so re-employment may prove very difficult for the affected workers. According to the owners, the facility at Tienen was developed to produce large volumes of standard lighting but increasingly the demand is for rapidly changing models with lower production volumes.
Eurofound (2016), Sylvania, Closure in Belgium, factsheet number 89297, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89297.