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.
Metal company TN Europe BV, formerly TN Netherlands, will close its factory at Veenendaal by the end of 2022 and will cut 195 jobs, of which 13 temporary workers. The Japanese parent company Tsubaki Nakashima is moving production to Bosnia-Herzegovina: the company was one of Veenendaal's largest employers. Its customers are bearing manufacturers, suppliers to the automotive industry (cars and trucks) and other industrial companies.
Structural changes in the automotive sector, such as electrification,are impacting metal production. TN Europe BV has been losing revenue and customers since 2018 and is no longer profitable.
Social partners and unions were recently informed and are working on a social plan; the work council has also received an advice request to help with the situation. However, Union CNV states that they expect employers to contact TN Europe BV on short notice due to an alarming shortage of well-trained technical staff.
TN Europe BV is a metal company that supplies the automotive industry and works with car brands such as Mercedes, BMW, Audi, and Volkswagen.
Eurofound (2022), TN Europe B.V., Offshoring/Delocalisation in Netherlands, factsheet number 106351, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106351.