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.
The clothing manufacturer Teba Industries, part of the Dutch Teba Group NV, has announced that it is to cut 900 jobs by closing down its plant in Arad and move operations to Iasi (Iasi County, North-East region). The relocation of jobs is due to the shortage of labour force in West Romania and rising salaries in the region. In Iasi, the area where the jobs will be relocated to, “labour force is cheaper and it is easier to find skilled workers" says Laura Madosa, general manager of Teba Industries. Over 900 employees working at the Arad-based plant, which manufactures children's clothes, will be affected by the relocation. The decision to close the facility in Arad was made in October last year, and operations will be moved to Iasi by August 2008. "The company has offered the employees the opportunity to relocate to Iasi, but very few are willing to make the move," added Madosa, specifying that the employees who have accepted are mostly engineers and highly skilled workers.
Eurofound (2008), Teba Industries, Relocation in Romania, factsheet number 66520, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66520.
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