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 aerospace subcontractor Lauak, which is specialised in the production of primary parts, sub-assemblies and assemblies for the aerospace industry, has announced 198 job cuts. The collective dismissal proceeding started on 31 July.
More in detail, the plan presented to the works council entails 138 job cuts in Hasparren-Ayherre which has 466 employees. This mainly concerns employees working in the welding, boiler making and forming sectors. In addition, 60 people are to be made redundant in Isle-Jourdain. The job cuts are expected to take place in the autumn.
Lauak was founded in 1975, and currently is one of the main manufacturer-suppliers of primary components, sub-assemblies and assemblies for the aeronautics industry, working with customers like Airbus, Boeing and Dassault.
Eurofound (2020), Lauak Aerostructures France, Internal restructuring in France, factsheet number 101423, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101423.