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 restructuring process of CP - Comboios de Portugal, a Portuguese railway passenger transport company, will lead to 725 redundancies. As part of the Strategic Plan for Transport, the dismissal concerns 23% of the current workforce of 3115. The dismissals are reported to take place during 2012.
These redundancies are part of a larger restructuring process in Lisbon's transport sector. Other companies have announced redundancies adding up to about 2000 job cuts: Carris announced 635 redundancies (see here); Metropolitano de Lisboa announced 364 job cuts (see here) and EMEF - Empresa de Manutenção de Equipamento Ferroviário announced 400 dimissals (see here).
UPDATE, 23/02/2012 - According to latest news reports, at least 688 workers will be made redundant. The operator hired the consultancy Deloitte to support the company's redundancy plan which must be carried out in order to reduce operating costs and fulfil the austerity targets set by the Government.
Eurofound (2011), CP - Comboios de Portugal, Internal restructuring in Portugal, factsheet number 72850, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72850.
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