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.
Belgium (150 to 160), France (90), Germany (80 to 90) Italy (110 to 120), Portugal (80), Spain (40 to 50) + other countries is the world
Sector
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
800 jobs Number of planned job losses
Announcement Date
23 September 2010
Employment effect (start)
Foreseen end date
31 December 2011
Description
On September 23, 2010, the Belgian chemical group Solvay announced a reorganisation plan called "Horizon" which will cut 800 jobs throughout world, including 600 in the European Union. National information and consultation procedures started on 30 September 2010, after a European Works Council meeting on 28 and 29 September, in Brussels. The group wants to save 120 million Euros per year from now until the end of 2012. This plan follows the sale of the company's pharmaceutical activities to the US firm American Abott, last year. Solvay wants to focus on the chemical industry and will build headquarters in Paris (and close its current headquarters in Ixelles, near Brussels, Belgium) for its new chemical division, which will cover 16 plants in Europe. The company's management has said that it will avoid direct dismissals as far as possible.
Eurofound (2010), Solvay, Internal restructuring in World, factsheet number 71130, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71130.
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