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.
Masterfoods announced on 11 March 2005 a 1070 job cuts in Europe (10 % of its personnel). This decision concerns France, the United Kingdom and Germany. The company is a Mars subsidiary and produces confectionery and other food products. Management planed to suppress 250 jobs in France. However, Masterfoods wants to minimize the redundancies with early retirements and an internal reorganization.
On 11 May 2005, further information was given regarding the restructuring: management is to suppress 193 jobs in France out of 3,321. One hundred and five employees will be relocated to Germany and UK. The job reduction concerns mainly managers. One hundred and two jobs will be suppressed at Saint-Denis-de-L'Hôtel's factory, 74 out of 652 at its Haguenau's site, 11 out of 282 at Ernolsheim-Bruche's factory and 6 at Steinbourg.
Eurofound (2005), Masterfoods, Internal restructuring in France, factsheet number 61294, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61294.