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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.15 - Manufacture of bearings, gears, gearing and driving elements
245 jobs Number of planned job losses
Announcement Date
8 April 2021
Employment effect (start)
Foreseen end date
Description
Punch Powertrain, a manufacturer of continuously variable transmissions and other car components, has announced that it will dismiss approximately 245 employees at its facility in Sint-Truiden. In total, 193 blue collar and 52 white collar workers are at the risk of losing their jobs. This comes in addition to a recent dismissal round dating back to August 2019 when 138 employees were ultimately dismissed. The decision comes as a suprise as the company announced that it was growing significantly in December 2020. The exact reasoning why this dismissal round takes place after all is currently unclear.
Trade unions and the company management have started negotiations. In addition, strikes and other actions have started in the production departments of the facility.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
