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 American manufacturer of valves, pumps and seals Flowserve has announced the loss of 120 jobs at two of its production locations in the Netherlands in Roosendaal and Etten-Leur (South Netherlands), as part of its global downsizing effort mainly in response to the enduring oil crisis, heavily affecting important client sectors such as the offshore industry.
The restructuring concerns 60 permanent jobs and 60 temporary jobs, which will be lost as the production of pumps in Etten-Leur is discontinued and part of the production is moved to cheaper production locations in Italy, Mexico, and Argentina. The production plant in Roosendaal will be closed, and its seal production moved to Etten-Leur. Repair, manufacturing of spare parts and testing will continue in Etten-Leur. The company will negotiate a social redundancy plan for the affected employees.
Flowserve employs some 18,000 employees worldwide and has activities in 55 countries.
Eurofound (2017), Flowserve, Internal restructuring in Netherlands, factsheet number 90870, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90870.