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.
Against the backdrop of a global economic downturn, the Denmark-based engineering company FLSmidth plans to cut 600 jobs worldwide (accounting for 6% of the workforce) in order to create the necessary flexibility and be better prepared for future uncertainties in the markets. This was announced to the Danish Financial Supervisory Authority on 19 January 2009. The reduction in workforce is expected to primarily affect FLSmidth's three project centres in Valby, (Denmark), Bethlehem (US) and, to a very limited extent, Chennai, India. Statutory national negotiations will be initiated with the relevant labour market organisations. FLSmidth expects that the downsizing of its workforce will have 'a limited positive effect on the earnings for 2009 and a full impact in 2010'.
Eurofound (2009), FLSmidth, Internal restructuring in World, factsheet number 67919, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67919.