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.
In June, Malta's Prime Minister announced the start of the process leading to the privatisation of the company Malta Shipyards Limited. The process will include voluntary early retirement schemes. The company, employing about 1,626 workers in 2008, has been operating at a loss for many years. During the pre-accession talks, the government agreed to stop subsidizing the company by the end of 2008. The government aimed to have no more than 450 to 700 employees by the time the company is sold. By reducing the number of workers, the government expects to attract foreign investors. As of September 2008, 1,485 workers have already applied for the early retirement schemes.
Information on the trade union’s reaction to the decision to privatise Malta Shipyards is available on the European Industrial Relations Observatory (EIRO).
Eurofound (2008), Malta Shipyards Limited, Merger/Acquisition in Malta, factsheet number 67178, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67178.