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 Turkish-owned Dutch producer of cookies and chocolates, Verkade, has announced plans to cut 87 full-time positions at its production facility in Zaandam. The job cuts are motivated by declining sales abroad, especially in the US and UK. The reductions will fall mainly among production personnel. The unions are surprised at the high number of job cuts, although personnel had expressed worries earlier after noticing a decline in production. The unions are yet to negotiate redundancy packages with the company. Verkade is a long-standing Dutch producer of initially bread and similar products, later having switched to predominantly cookies and chocolates. In 1990 it came to be owned by a British group, which was later taken over by the Turkish Yildiz Holding, now pladis, which has 36 factories in 13 countries and employs 26,000 people.
Eurofound (2017), Verkade, Internal restructuring in Netherlands, factsheet number 90272, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90272.