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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.3 - Manufacture Of Other Products Of First Processing Of Steel
102 jobs Number of planned job losses
Announcement Date
25 November 2024
Employment effect (start)
25 November 2024
Foreseen end date
Description
Forgex France is taking over two Walor factories, resulting in 102 job cuts in the production of large steel rods for combustion engines, not used in electric cars. Out of the 78 employees at the Vouziers factory, only 48 will retain their positions, while 53 of the 125 employees at the Bogny-sur-Meuse site will remain. The closures come after Walor was acquired by the German investment fund Mutares in 2023.
Although some trade union representatives expressed relief over the takeover, they voiced disappointment regarding the low severance packages offered to those losing their jobs.
Forgex France currently employs a total of 215 workers.
Eurofound (2024), Walor, Merger/Acquisition in France, factsheet number 202015, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202015.
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