Vallourec

Type
Internal restructuring
Country
Germany
Region
Nordrhein-Westfalen;
Location of affected unit(s)
Sector
Manufacturing
(24 - 25) Manufacture of metals
24.2 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
24.2 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
600 jobs
Number of planned job losses
Job loss
Announcement Date
25 February 2019
Employment effect (start)
25 February 2019
Foreseen end date

Description

As announced on 25 February 2019, the French steel pipe manufacturer Vallourec will be cutting 600 jobs in North-Rhine Westphalia (NRW) due to internal restructuring. Cuts are necessary due to increasing competition from China as well as a decreasing market for steel pipes. According to Vallourec, exit-agreements, mainly early-retirement programmes, have been made with 440 employees. The job reduction will affect all plants in NRW, however an exact distribution as well as a timeframe have yet to be announced.

Currently, Vallourec has 19,000 employees worldwide and 4,000 in Germany.

Sources

Citation

Eurofound (2019), Vallourec , Internal restructuring in Germany, factsheet number 97405, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97405.