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.
Siemens is to close a steel engineering site in Saint-Chamond in France's Loire region with the loss of 210 employees in August. 590 people were employed at the site but 380 jobs are to be transferred to a nearby Siemens Metal Techonoligies plant in Montbrison, Loire. A tense dispute between workers and management in the run-up to the closure announcement resulted in two of the site's managers being kidnapped. A redundancy deal was eventually offered to laid off workers worth between €25,000 and €45,000 but unions were unhappy of the details of this package.
Eurofound (2010), Siemens, Relocation in France, factsheet number 70327, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70327.