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.
SAS Automotive, a company specialised in the assembly, logistics and development of automobile cockpits has announced the closure of its facility in Ghent. The facility relies heavily on the demand for parts by the Volvo factory also situated in the region. At the end of March the company, along with several other subcontractors, failed to settle a new contract to supply parts for the new Volvo XC40. Considering the very specific nature of the production capabilities present in the factory, the company is forced to shut down the facility altogether.
All 199 employees currently active in the facility will lose their job because of the bankruptcy. The announcement of the large amount of layoffs immediately led to strikes within the facility. Employees demanded an individual social plan for each and every one of them. After several days of negotiations and different proposals, both employers and unions came to an agreement on the 9th of May. 168 out of 199 employees cast their vote, the proposed measures were accepted by a majority of 129. Each employee will receive an individual social plan.
Eurofound (2016), SAS Automotive Belgium, Closure in Belgium, factsheet number 87388, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87388.