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.
Elvila, the largest domestic manufacturer of furniture in Romania, will lay off nearly 10% of its employees this year. "We will have to make approximately 400 people redundant this year, but we will also change the structure of the product range and the client portfolio" stated Viorel Cataramă, President and General Manager of the Elvila Group. The main reason for the restructuring is the appreciation of the RON against the Euro, which affected Elvila's export competitiveness. In 2005, the share of export in total revenues was 55%.
After 300 people were dismissed last year, the total number of employees of Elvila currently stands at 4,120.
The company has four manufacturing sites in Beiuş (commune Bihor, North West Region), Mizil (commune Prahova, South Region), Râmnicu Vâlcea (commune Vâlcea, South West Region) and Piatra Neamţ (commune Neamţ, North East Region). All of them will be affected by the job cuts.
Eurofound (2006), Elvila, Internal restructuring in Romania, factsheet number 63292, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63292.
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