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.
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.
Eurofound (2024), Syensqo , Internal restructuring in World, factsheet number 201906, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201906.