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.
Saint-Paul Luxembourg S.A. publishes the oldest newspaper in Luxembourg, the Luxemburger Wort. The company announced a social plan in mid-September that concerned 80 out of 330 employees working at Saint-Paul. Finally, the management highlighted that only 6 jobs would be saved. Long negotiations between the management and the trade unions LCGB and OGBL to conclude a social plan failed within the context of the so-called concialiation procedure, where social plans are negotiated in Luxembourg. The company has stated that the restructuring was due to increasing digitalisation and especially the Covid-19 crisis that has entailed a loss of revenues for the company.
Eurofound (2020), Saint-Paul Luxembourg, Internal restructuring in Luxembourg, factsheet number 102267, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102267.