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.
On 5 September 2011, chemicals manufacturer Chemolux announced to cut between 40 and 140 jobs at its plant in Foetz by 1 January 2012. The company currently employs 275 employees.
The job cuts are reported to be a consequence of Chemolux losing its contract with its main customer, the Henkel group. However, from 5 September to 15 November, the workforce will have to work 6 days a week instead of 5 in order to fulfill its obligations towards Henkel.
The final number of job cuts will depend on whether the management finds new customers before the end of 2011.
UPDATE, 23/02/2012 - After negotiations for a social plan with Luxembourgian trade union OGBL, Chemolux announced that some 47 jobs will be cut immediately, while another 63 by the end of June 2012. OGBL said that its was disappointed by the high number of cuts.
UPDATE, 07/03/2012 - Chemolux and the trade unions OGBL and LCGB reached an agreement on the social plan envisaging 47 job cuts in March 2012 and another 44 in June. Redundant workers will receive a compensation of at least EUR 12,500.
Eurofound (2011), Chemolux, Internal restructuring in Luxembourg, factsheet number 72624, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72624.