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.
Watts Industries, an American manufacturer of plumbing, sanitary, and heating products, has announced the closure of its Hautvillers-Ouville (Somme) site, which specialises in tap manufacturing. 98 permanent employees and 25 temporary workers will lose their jobs when the site closes in the first half of 2025. The company cited sectoral changes and a decline in market share as the reasons for shutting down one of its two sites in France.
The decision has sparked concern among social partners, who are critical of the lack of notice and the challenges it poses, particularly given that many of the workers are over 50 years old. Signs and symbolic wooden crosses have been installed in the city and in front of the factory. Staff representatives have started negotiations with the aim of establishing a social plan.
Eurofound (2024), Watts Industries France, Closure in France, factsheet number 201708, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201708.