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.
Spanish group Fagor, the manufacturer of electric domestic appliances and machines for electric household appliances, announced on 15 November 2006 that the group would cut 570-600 jobs between December 2006 and March 2007. The reason is a group's loss of EUR 30 million during the eight months in 2006, including a loss of EUR 13.9 million reported by Brandt, a major French manufacturer of electric household appliances, which was bought by the Spanish group Fagor in 2005. The Spanish group has announced the launch of an internal reorganisation. In France, after the closure of a factory in the west of France in May 2006, the Fagor group (including Brandt) will cut 350 jobs in Saint Jean de Luz and in Loiret.
In Italy some 220 employees will lose their jobs. And in Spain 30 jobs are to be cut in Mondragón.
According to trade unions, the Fagor group considers a delocalisation of some activities to the factories in Poland and in Morocco.
Eurofound (2006), Fagor, Internal restructuring in European Union, factsheet number 64459, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64459.