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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.2 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
400 jobs Number of planned job losses
Announcement Date
26 July 2018
Employment effect (start)
26 July 2018
Foreseen end date
Description
The French steel pipe manufacturer Vallourec will be cutting approximately 400 jobs in Germany due to internal restructuring. Further information on timeframe and distribution of cuts (Vallourec has 2 plants in Germany) have yet to be announced. Cuts have reportedly become necessary due to the recent market and order situation.
In recent years, Vallourec invested €50 million in a new modern roll mill in Rath but now expects to produce 30,000 tons less than in previous years.
Management, works council and the German Metalworkers’ Union will shortly start negotiations regarding a social plan.
Sources
Citation
Eurofound (2018), Vallourec, Internal restructuring in Germany, factsheet number 94811, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94811.
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