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 Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture Of Chemicals And Chemical Products
300 - 350 jobs Number of planned job losses
Announcement Date
5 November 2024
Employment effect (start)
5 November 2024
Foreseen end date
Description
Syensqo, a Belgian company specializing in composite materials and specialty chemicals, has announced that it will cut between 300 and 350 jobs worldwide.
The company plans to reduce its global workforce up to 350 jobs as part of a strategy to streamline operations and focus on growth projects. The job cuts will be primarily concentrated in France (122 jobs), the United States (112 jobs), Belgium (36 jobs), and Italy (33 jobs).
This restructuring follows Syensqo’s spin-off from Solvay in December 2023 and aims to enhance operational agility.
Syensqo was established in December 2023, through the spin-off from Solvay. The company has 62 industrial sites and 12 R&D centers, employing 13,000 people in 30 countries.
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.
