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.
Facing a serious decline of orders, the management of the German group Fritzmeier has announced a restructuring in its subsidiary TIM SA. The company intends to cut between 100 to 125 positions, depending on the source, out of a total of 630 employees in its plant in Quaëdypre, near Bergues (Nord).
The company specialises in the manufacturing of cabins for construction machinery and handling (about 25,000 units per year), and has been owned by the Fritzmeier group since 1982. The management explained that the decision was taken due to a decrease in orders from its major customers (Caterpillar, Manitou, Volvo, Hitachi and JCB), many of which are delocalising their production.
Eurofound (2016), TIM SA, Internal restructuring in France, factsheet number 87542, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87542.