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.
Arcelor-Mittal, the international steel group, has announced that it is to cut 595 jobs from 1,108 at its steelworks in Gandrange, Moselle in France, between April 2008 and April 2009.
The site suffered a net loss of 45 millions euros over the last two years. The group says it will give alternative jobs to employees at its neighbouring site in Florange where it plans to invest 65 millions euros this year, and in Luxembourg.
The European Metalworkers' Federation demanded that Arcelor-Mittal pull back from the partial closure, saying the company had not invested in the plant at all in recent years and the cutbacks posed a threat to the existence of the whole site. Arcelor-Mittal said it would try to give workers the choice of relocating to a nearby flat steel plant in Florange or to other locations over the border in its home base in Luxembourg.
Eurofound (2008), Arcelor Mittal, Internal restructuring in France, factsheet number 66204, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66204.