Picanol

Type
Internal restructuring
Country
Belgium
Region
Vlaams Gewest; Prov. West-Vlaanderen; Arr. Ieper
Location of affected unit(s)
Leper
Sector
Manufacturing
Manufacturing Of Machinery And Equipment
Manufacture Of Machinery And Equipment N.E.C.
28 - Manufacture of machinery and equipment n.e.c.
115 jobs
Number of planned job losses
Job loss
Announcement Date
22 January 2009
Employment effect (start)
2 February 2009
Foreseen end date
28 February 2009

Description

Picanol, a manufactuer of looms, is about to cut 155 jobs at its plant in Leper, Flanders. The company faces a decrease in demand and intends to reduce its production costs. Because of the crisis in the textile sector, the company does not expect to have better results in 2009.

Sources

  • 23 January 2009: L'Echo
  • 22 January 2009: La Libre Belgique

Citation

Eurofound (2009), Picanol, Internal restructuring in Belgium, factsheet number 67915, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67915.