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.
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.
Eurofound (2021), Punch Powertrain, Internal restructuring in Belgium, factsheet number 104558, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104558.