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.
Alcoa Fijikura, a Japanese producer of wiring harness systems for the car industry, has announced that it is to cut 660 out of 1,200 jobs in Stříbro by the end of 2008.
The company attributed the job cuts to the decline of customer orders and the global financial crisis. The workers who are leaving the company on a voluntary basis are to be given a severance pay amounting to 6 and half average monthly wages (compared to the 3 wages that are given as a statutory severance pay).
Eurofound (2008), Alcoa Fujikura, Internal restructuring in Czechia, factsheet number 67534, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67534.