The arms manufacturer from Liège, which is owned by the Walloon region, has been in the red for years. Turnover fell sharply between 2019 and 2021, there was already an improvement this year and sales are also expected to increase next year. But savings must also be made, if not there is a risk of loss figures in both 2022 and 2023. The company suffers, among other things, from the expensive costs for energy and raw materials.
Earlier this week, management and trade unions had already met. The plan of the management includes both structural and cyclical measures, a spokesperson for FN Herstal confirmed on Friday. “There will be no collective redundancies, but a number of fixed-term contracts will not be replaced. There will also be a new early retirement plan and the number of consultants will be reduced.” Several departments of the company will be scrutinized to improve operations, and wage conditions for new entrants will be reviewed, it said.
With regard to cyclical measures, FN Herstal will invoke partial and temporary economic unemployment for all employees.
The precise modalities are still being negotiated with the trade unions. About 1,500 people work at FN Herstal.