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.
The management of Sandvik, a inserts and grades manufacturer for the automotive and aerospace industries, has announced the closure of its plant located at Fondettes (Indre-et-Loire). This decision will lead to 161 job cuts including 130 in production and the remaining cuts within the research and development unit. This site belongs to the Swedish group Sandvik which has 46,000 employees worldwide of which 12,000 in Europe including 1,800 in France. In 2015, the group had already closed a production unit at Fondettes with 45 job cuts. To explain the complete closure of the site, management highlights the need to manufacture more and more technological products. The Fondettes plant does not have sufficient equipment.
Negotiations with employee representatives are taking place over the next three months. Management has begun making proposals for reemployment but at remote locations, according to a representative of the CFE-CGC union. The average age of the company is 49, but some employees are between 55 and 58 years old, and only have expertise in one task. According to trade union sources, the closure of the site could be effective in April 2019.
In the same geographical territory, this announcement comes one year after the announcement of the closure of Tupperware Joué-lès-Tours (more than 200 lost) and 5 years after the large social plan affecting the plant of Michelin at Joué-les-Tours (436 job cuts and 270 re-employment measures).
Eurofound (2018), Sandvik Coromant Inserts, Closure in France, factsheet number 95698, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95698.
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