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.
Cetis is a printing company employing 440 people. The company's sales used to depend strongly on the government procurement. At the beginning of 2005, the government suddenly cancelled contracts for the printing of passports and stickers to be used for each car proving the fulfillment of technical requirements. As a result, the company lost SIT 800 million of its annual turnover and finished the year with a loss of SIT 600 million. Problems with customers were accompanied by ownership changes. The majority of shares was sold by the then management to a local investment company Zvon 2. In 2006, Cetis regained some of its orders for the authorities like printing of biometrical passports and some other official documents. The company has began to produce new products (photo-bags for laboratories) and entered into a services sector as well. At present, some 90% of Cetis's turnover comes from printing and publishing and only 10% from services. In the future, the company expects to raise the share of services to 70%. As a result of these events, in 2005 Cetis reduced the number of employees by 30 and expects to reduce it by another 30 in 2006. All job cuts were and will be done either by retiring some employees or by reaching an agreement with other affected employees. The company's management expects to enter into a new employment cycle in the future, due to the changed structure of their production.
Eurofound (2006), Cetis, Internal restructuring in Slovenia, factsheet number 64455, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64455.
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