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 CEO of Continental group announced on 12 December 2006 that the manufacturing plant of accessories for vehicles will close for good in December 2008. The 330 employees of the factory in Angers, west of France, will lose their job between September 2007 and December 2008. The CEO announced that automobile electronics will be transferred to China and Romania. On 2 July 2006, Continental bought this factory to Motorola for 753 million euros. Trade unions are concerned because employees will have many difficulties in finding new jobs in Angers, where other factories such as Bosch are cutting jobs too.
Eurofound (2006), Continental, Offshoring/Delocalisation in France, factsheet number 64590, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64590.