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.
Fortischem, one of the largest chemical companies in Slovakia, manufactures chemical products based on chloride, calcium carbide, industrial gases, PVC and other basic and special chemicals. In September 2022, the company announced that it will lay off 362 employees due to the unfavourable economic situation, which, according to the chairman of the board of directors, is caused by high energy prices. The chairman also points out that in Slovakia no compensation programs or the possibility of capping energy prices have been introduced as is the case in other European countries.
Fortischem is owned by the Czech stock company CM-CREDI, part of the KAPRAIN group, and is located in the town of Nováky, Horná Nitra region. The town is known for brown coal mines (discontinued), coal power plants and its chemical industry.
As of 19 September 2022, there has not been any reaction from trade unions.
Update 03/08/2023:
News became public on 29th of June 2023, that Fortischem did not actually lay off 362 employees, the actual number is in 10s. Favourable economic situation in the end of last year reversed the situation. Fortischem predict that they will not lay off any more employees in the next 12 months.
Eurofound (2022), Fortischem, Internal restructuring in Slovakia, factsheet number 107395, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/107395.
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