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.
The chemical manufacturing company, Hunstman Corporation, has announced that it is to close certain operations of its subsidiary, Tioxide, in Calais (Nord). The restructuring plan will lead to 160 job cuts, and an employment safeguard plan is being negotiated with the social partners. Huntsman wants to reduce its production of titanium dioxide in Europe by 13% and has thus decided to reduce the production capacities of its plant of Calais (the site with the highest production costs). The aim is to save 35 million dollars.
The employees have decided to go on strike following the announcement of the prospective job cuts. The site has employed up to 570 employees since it was created in 1967. Since 2000, social plans have succeeded in decreasing employment level. No information is available on when the employment effect will start and end, or what type of job cuts are to be expected. However, the company is negotiating with trade unions in order to make an acceptable social plan and this process on average takes 3 months. As such, the first dismissals are not expected before 15 May.
Eurofound (2015), Tioxide Europe, Internal restructuring in France, factsheet number 78341, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78341.