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.
Dutch textile firm Vlisco is to shed 320 of its 2700 strong workforce, of which 200 jobs are based in the Netherlands and the remaining 120 in Ghana and the Ivory Coast. Vlisco's market is largely fashion for African women, and their African markets have been adversely affected by falling oil prices which caused faltering in the economies of African states. This is particularly relevant to West Africa, where Vlisco have a presence in the local clothing scene. This move was expected, as Vlisco had brought in David Suddens, who oversaw a similar situation at Dr Martins, as CEO, to enact some form of cost saving measure. Much of the job losses are at mid-management level, with the intention of creating a "flatter" organisational structure going forward.
Eurofound (2015), Vlisco, Internal restructuring in World, factsheet number 85991, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85991.