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.
On 13 January 2006 , the vice-prime minister and Minister of foreign affairs Ivailo Kalfin announced in the parliament that around 5,000 workers were laid off by the new owner of Bulgarian Telecommunication Company (BTC) Viva Venchers. Mr Kalfin based his speech on published data from the Post privatisation control agency. In September 2005 trade unionists of Confederation of the Independent Trade Unions in Bulgaria (CITUB) in BTC had announced that a 'secret' annex to the privatisation agreement for Bulgarian Telecommunication Company (BTC) would cause the lay off of 5,000 persons by December 2005. ‘The first step foresees the dismissals of 600 employees from the company's call-centres. The new owners of BTC have already decreased the number of those centres from 22 to 11 and are now planning to close more of them’, said the unions. Around 9,000 persons were hired from BTC after its privatisation from the American Viva Venchers in 2004, said the trade unions. From about 24,000 employees in 2004 not more than 18,000 are working there now.
Eurofound (2006), Bulgarian Telecommunication Company (BTC), Internal restructuring in Bulgaria, factsheet number 62311, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62311.
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