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.
Marriott, a multinational hotel chain has announced the closure of its offices in Brussels. Because of this 137 employees are facing dismissal. The main reasoning behind the closure are cost saving measures following the company's recent merger with another US hotel group, Starwood. Keeping the Brussels office - formerly that of Starwood - active was deemed unviable as the company has offices in Frankfurt, London and Zurich as well. The European management of the chain has stated that the restructuring will save 250 million euro in total.
Eurofound (2016), Marriott, Merger/Acquisition in Belgium, factsheet number 90311, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90311.