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.
Sulzer, an international engineering and equipment producer has announced significant dismissals in its facility in Thimister back in June 2020. The company management and trade unions have negotiated the concrete extent of these dismissals. In February 2021, the news was released that these negotiations failed to reduce the amount of dismissals significantly, ultimately leading to 155 dismissals. Trade union representatives state that the company management was unwilling to make significant changes in their initial restructuring plans and negotiations were difficult.
The original reason for restructuring were difficulties and ongoing heavy competition within the sector. In particular the oil industry, an important market for the company which has been struck by the current health crisis, leading to a reduction in demand. These issues led the company to decide to shift the type of activities within the Belgian division, reducing its focus on pump production.
Eurofound (2021), Sulzer, Internal restructuring in Belgium, factsheet number 103629, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103629.