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.
Correios de Portugal (CTT), the Portuguese national postal service company, is in a restructuring process and will open a mutual termination programme that is expected to cover 200 workers. This restructuring process was already planned in its 2023 annual accounts report. A total of €13.4 million was allocated for the departure of about 200 employees, which will happen in the course of 2024.
Personnel costs rose by €30.8 million (8.8%) in 2023, mainly due to the increase in wages (more €15.9 million) as a result of the increase in the national minimum wage.
CTT had 13,670 workers on 31 December 2023, 1,164 more than the previous year, of which 11,386 were permanent and 2,284 had fixed-term contracts.
Eurofound (2024), Correios de Portugal (CTT), Internal restructuring in Portugal, factsheet number 200978, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200978.
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