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.
Halyvourgiki, Greece’s oldest company in the steel industry and one of the main steel producers, announced a voluntary exit plan affecting 100 employees out of its 300. According to Halyvourgiki, the announcement followed the notification of the company’s workers union. The job cuts are blamed on the ongoing recession, fall in sales and very high energy costs (electricity and natural gas) that prevent the company from being competitive.
The Minister of Production Reconstruction, Environment and Energy held meetings with the company's managers in an effort to persuade them to reconsider the decision to cut the jobs. Meetings with the representatives of the Panhellenic Metal Workers Federation (POEM) also took place. On 8 April, the Minister of Labour and Social Solidarity accepted the workers request for a trilateral meeting to be held at the Ministry in the following days. According to media sources the Greek government is already taking measures to reduce energy costs.
Eurofound (2015), Halyvourgiki, Internal restructuring in Greece, factsheet number 79190, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/79190.
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