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.
Bulgaria's largest steel-marker Stomana Industry has announced that it is to rehire 100 of the 300 workers it laid off in 2008. Bulgaria's largest operational steel-maker Stomana Industry has announced it would hire 100 new workers.
According to Tomcho Tomov, HR Manager of the plant based in the city of Pernik, the plant has started to create the jobs it had to shed due to the economic crisis. In November 2008, the company, owned by the Greek Tempo Metal, laid off about 300 workers. "Under the agreement with the trade unions we are committed to re-hiring the laid-off workers in the event of favorable market conditions. We are now starting to honor our commitment", Tomov stated. In his words, the new dynamics on the international markets are helping Stomana Industry regain positions. The 100 new jobs will be for metal workers.
Stomana Industry is now the largest Bulgarians steel-maker in operation, after the Kremikovtzi plant in Sofia, which went bankrupt and had to close down.
Eurofound (2010), Stomana Industry, Business expansion in Bulgaria, factsheet number 71163, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71163.
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