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.
The Spanish group Fagor, the manufacturer of electric domestic appliances and machines for electric household appliances, announced on 15 November 2006 that in December 2006 Fagor France will cut 350 jobs in France. The measure will mainly affect the units in Saint Jean de Luz, in Loiret and Lyon (Rhônes Alpes), Orléans, Vendôme (Centre), Aizenay, Cergy Pontoise, Rueil Malmaison (Bassin Parisien). The reason for the job cuts is the group's loss of 30 million euro during the first eight months of 2006, including a loss of 13.9 million euro reported by Brandt, a major French manufacturer of electric household appliances, which was bought by the Spanish group Fagor in 2005. 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. This decision results from the general transfer of activities to low cost countries and the increasing imports from China.
Eurofound (2006), Fagor, Offshoring/Delocalisation in France, factsheet number 64470, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64470.