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 television maker TP Vision has organised a special Works Council to announce a collective dismissal of 178 of the 238 jobs at its Zwijnaarde facility. The affected employees are high skilled engineers and IT-specialists. The establishment in Zwijnaarde will become a technical support department.
The trade unions as well as local politicians (the Mayor Daniël Termont and his economics advisor Mathias De Clercq) have asked for extra information. Only eighteen months ago, TP Vision facility was moved from Bruges to the Technology Park in Ghent. The objective was the development of a research centre on the ‘TV of tomorrow’.
The Flemish Agency of Innovation has reacted sharply. TP Vision had been promised it would receive support subsidies for the planned innovation research. As the support was linked to the employment, those subsidies already paid will be reclaimed and those not yet paid will be cancelled.
Eurofound (2016), TP Vision, Internal restructuring in Belgium, factsheet number 86139, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86139.