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.
Lead-Zinc Complex AD - Kardzhali (LZC AD - Kardzhali) has made 520 redundancies due to bankruptcy. Up to 30 employees will remain in the company, according to statements from the new CEO, Valentin Minev. The few employees that will remain on the insolvent firm’s payroll will facilitate the sale of certain assets and the changeover to the new owner Harmony 2012.
Most employees have left the company in the last couple of weeks, so this month the labour inspectorate was informed of only 72 official dismissals on 7 December 2012. The workers had been striking for months due to long-overdue wages. Many of them decided to resign, while others were made redundant. According to reports the unions have criticized that the company proceeded without formally consulting them.
LZC Kardzhali is the second biggest zinc smelter in Bulgaria. The company’s biggest competitor in the country is Plovdiv-based KCM. LZC Kardzhali exports 85 percent of its output, mostly to Italy, Germany, Austria and Turkey. It is not clear when the new owner, Harmony 2012 will resume production.
Eurofound (2012), Lead-Zinc Complex AD - Kardjali, Bankruptcy in Bulgaria, factsheet number 74584, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74584.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
