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.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.13 - Manufacture of other inorganic basic chemicals
100 jobs Number of planned job losses
Announcement Date
26 February 2020
Employment effect (start)
1 June 2020
Foreseen end date
31 December 2021
Description
The management of the Belgian chemical group Solvay has announced a net loss of 350 jobs worldwide, including 100 job cuts in France, by the end of 2021. The company states in a press release that support measures will be proposed during the negotiations with social partners. The group announced that it anticipates a further organic decline in its gross operating surplus (Ebitda) in 2020, but has raised its cost reduction target to 2024, after achieving results in line with its forecasts last year.
Solvay has about 24,100 employees in 64 countries, including 3,740 in France where it has ten plants.
Eurofound (2020), Solvay, Internal restructuring in France, factsheet number 99850, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99850.
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