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.
3M an American multinational conglomerate has announced the closure of the Nivelles facility of its subsidiary Wendt Boart, a producer of diamond processing tools. The main reasoning behind the closure is a large operation of the company to move several of its facilities to Asia. Other facilities in European countries are affected as well, namely in: Italy, France, Germany, Sweden and the UK. The mandatory Renault procedure has started, to see if there are other options available for the dismissed employees instead of direct dismissal. 3M employs 700 people across three facilities in Belgium - Nivelles, Diegem and Zwijndrecht - and 89,000 worldwide.
Eurofound (2017), Wendt Boart, Offshoring/Delocalisation in Belgium, factsheet number 91340, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91340.