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.
As a result of decreasing revenues on the global level and an internal restructuring strategy involving around 10 to 15 % of job cuts in the major offices of the company (i.e. London), the Société européenne des satellites (SES) that delivers satellite and ground communications solutions in several countries with a total workforce of 2100 employees (600 based in Betzdorf, in the Eastern part of Luxembourg), announced in May 2020 to cut approx. 300 jobs in Luxembourg.
After withdrawing from a social plan at the beginning of July 2020 and renewed negotiations with the management, staff delegations at SES, supported by the representative trade unions OGBL and LCGB, signed on the 31 of July 2020 a job maintenance plan (Plan de maintien dans l'emploi, PME) lasting 24 months. The plan supports concerned employees with early retirement schemes, training measures and redeployment initiatives within the SES group.
Eurofound (2020), Société européenne des satellites (SES), Internal restructuring in Luxembourg, factsheet number 101635, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101635.