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 Upper Austrian fertilizer manufacturer Borealis Agrolinz Melamine plans to cut its workforce by 100 by 2013. Agrolinz Melamine, a subsidiary of Borealis, received notice from its owners Ipic in Abu Dhabi who holds 64% of the company and OMV who holds 36%, of an investment of EUR 145 million to be used to modernise its facilities in Linz. The programme aims at increased efficiency, but at the same time fixed costs need to be reduced which means that the workforce will be decreased from 800 to 700 by the end of 2013.
The majority of redundancies will take the form of natural attrition through retirement or part-time employment for older employees. New job offers within Borealis will also be part of the severance package; however, not all of those will be located in Linz. For the rest of the workforce made redundant, a social plan will be worked out, according to the managing director.
The company produces 1.5 million tons of plant nutrients annually of which 80% are exported.
Eurofound (2010), Borealis Agrolinz Melamine, Internal restructuring in Austria, factsheet number 70673, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70673.