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.
Croatian rolling stock manufacturer TZV Gredelj is to cut up to 220 jobs from the beginning of September 2014. As announced the state-owned firm plans to close the production sites for coaches and trains by the end of the year and focus only on the production of locomotives.
The factory went bankrupt as of October 2012 and till then a cost reduction rationalisation plan is implemented. According to the sources, 120 planned job cuts are announced by one of the creditors but the union refers to the possibility that up to 220 jobs will be affected.
Eurofound (2014), TZV Gredelj, Closure in Croatia, factsheet number 77463, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77463.