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 post office CTT Portugal has designed recovery strategy that involves the dismissal of 800 workers; closing counters; selling assets; cutting remuneration of management and supply costs; and freezing workers' wages, among other measures.
The redundancies are expected to be implemented over the course of the coming three years, as well as closing 22 counters. The postal service aims to reduce the number fo workers through through terminations by mutual agreement and early retirement. Thus far, 140 workers volunteered to avail themselves of these options and leave the company.
Currently, CTT has a total of 6,800 workers, of which 500 workers with fixed-term contract.
Eurofound (2017), CTT Portugal, Internal restructuring in Portugal, factsheet number 93011, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/93011.
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