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.
Radiator manufacturer Henrad announced its intention to stop the production of radiators and related logisitics activities in Herentals, near Antwerp. This will lead to the cut of 113 jobs. According to management, the decision arises as a result of strong market competition, over-capacity and declining demand for radiators / central heating as new home heating technologies become more widespread.
Trade unions will discuss measures to reduce the number of layoffs with management in the works council. As a result, the "Renault procedure" was launched.
Eurofound (2014), Henrad, Internal restructuring in Belgium, factsheet number 76702, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76702.