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.
Electrabel a Belgian energy producer, has announced cost saving measures that would involve a reduction of staff by 275 employees. The company wants to reduce costs by €430 m by 2018. The company indicates that no direct dismissals will take place. Instead a system of voluntary leave has been announced whereby employees 53 years and older are able to leave the company and continue to receive a part of their wage in return. The employees affected are mainly administrative and support staff. There was a muted reaction by unions and employees to the announcement as in 2013 a similar operation took place.
Eurofound (2017), Engie Electrabel, Internal restructuring in Belgium, factsheet number 89835, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89835.