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.
Knitwear manufacturer Ogres trikotaza is declared insolvent by court decision and 250 employees have been laid off by insolvency manager.
Ogres Trikotaza is knitwear manufacturer located in Ogre. In 2012 the enterprise operated with €7.88 million turnover, and incurred €104.8k loss. On 17 October 2013 the court approved legal protection process for the enterprise and obligated the legal protection plan for next two years. Early this year legal protection administrator asked court to stop legal protection process because the company has been found capable to fulfill a plan and to start insolvency process. On 5 February 2014 the court decided to start insolvency process.
The insolvency manager Edgars Karelis informed newspaper Dienas Bizness that due to large debts from foreign partners, the manufacturing on site has been suspended in December 2013. In total 250 employees have been laid off.
The insolvency manager hopes to sell the manufacturing site as a whole, because it is fully functional and the manufacturing can be restarted.
Â
Eurofound (2014), Ogres Trikotaza, Bankruptcy in Latvia, factsheet number 76783, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76783.
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...
