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.
Ambro, a company in Suceava (Nord-Est region), one of the major producers and exporters of pulp and paper in Romania - whose main shareholder is the French group Rossman - announced that it is downsizing. Following the devaluation of the euro, the company reported heavy losses and can no longer cover daily costs.
Production will be cut by approximately 25% and 745 out of the total 1,028 employees will be made redundant. The job cuts will affect workers in the production and maintenance departments as well as administrative personnel.
On 4 May 2005, between 200-500 Ambro employees staged protest actions in the company yard. The employees refused to sign receipt of redundancy notices on account of not observing the provisions of the company collective agreement. In case of redundancy, the collective contract stipulates that employees are supposed to receive between two and five monthly wages as redundancy pay, depending on length of service.
Following negotiations with the company management, an agreement was reached and employees are to receive an addendum to redundancy decisions, expressly specifying all their claims.
Eurofound (2005), Ambro, Internal restructuring in Romania, factsheet number 61613, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61613.
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