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.
Frigoglass, the world's largest maker of drinks refrigeration equipment, is to cut 120 jobs at its Patra site in Greece.
The company announced on 16th January, 2009 its intention to reduce the workforce to 90, due to the anticipated decrease of production by 72% for 2009, offering a voluntary exit plan and incentives such as the doubling of the legal redundancy pay and six net monthly wages.
Frigoglass also announced the closure of its plants in Norway and Poland, restructuring plans in its Russia, Romania, Turkey and China factories and lowering its general and operational costs.
The General Confederation of Greek Workers (GSEE) opposed this announcement, expressing its "strong dissent for decisions under the pretext of the international economic crisis”. GSEE called on the Minister of Employment “not to approve the 120 collective redundancies” and the Administrative Board of Frigoglass “not to insist on such an anti-labour and anti-social decision”.
Frigoglass is a Hellenic-based global corporation, specializing in the design, manufacture and marketing of Ice Cold Merchandisers and the production of Glass Containers, primarily targeting the beverage industry. Today, the Frigoglass Group comprises 16 production facilities and 14 sales offices in 14 countries.
Eurofound (2009), Frigoglass, Internal restructuring in Greece, factsheet number 67858, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67858.
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