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 German-based ABB Stotz will close its portuguese owned subsidiary, ABB Stotz Kontakt Eléctrica, in Porto, resulting in 171 job losses.
ABB Stotz explained that the constant price pressure has affected the company in recent years, with negative consequences on their business. The General Director of ABB Stotz in Portugal assured that the company will treat all those involved fairly, seeking, together with the workers' representatives solutions that can minimize the effects of this measure.
Eurofound (2011), ABB Stotz, Closure in Portugal, factsheet number 72385, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72385.