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.
VCST, a producer of automobile parts, has announced it will be dismissing a significant part of its personnel (ca. 62 employees) within the facility of Sint-Truiden. The main reasoning behind the effort is the fact that a number of large automobile clients of the factory have announced to reduce their production in combustion powered vehicles. This leads to a reduction in demand for parts produced at the facility. The facility has already seen significant layoffs in the past due to reduced demand and has also been also confronted with the fallback of the pandemic.
Eurofound (2023), VCST, Internal restructuring in Belgium, factsheet number 108645, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108645.