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.
Faurecia France (2,584 employees), the auto parts subsidiary of the French car maker PSA Peugeot Citroen, announced on 23 June 2006 that it aims to cut 690 jobs between 2007 and 2008. The job losses represent 20% of the company's workforce in the seat frame business. Faurecia group (60,000 employees in the world), like many other players in the sector, has delocalized much of its production to countries with lower labour costs, such as Poland. Car part makers are also feeling the effects of rising raw materials prices. Faurecia's site at Brieres les Scellés (in Essonne) will be the most seriously affected by the job cuts (290 jobs), losing a quarter of its 1,614-strong workforce. In 2009, a new factory site (with a new activity), programmed in Villers la Montagne (Meurthe et Moselle), will profit from an investment of 3.7 million euros. In this new site the group might recruit people. In any case, trade unions are not satisfied with this and called a strike on 27 June 2006.
Eurofound (2006), Faurecia, Offshoring/Delocalisation in France, factsheet number 63683, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63683.