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.
Syntex, a Polish hosiery company, announced that it plans to implement a collective dismissal programme and close its production facility in Łowicz, Poland. The restructuring will affect about 100 positions, and the redundant employees will receive severance pay equal to three months of salary. As the source reports, the COVID-19 pandemic has worsened the financial situation of the company; during the pandemic, Syntex has lost financial liquidity. The restructuring programme was registered by the company in the local employment agency in Łowicz.
Syntex has been operating since 1968; the company specialises in the production of socks, tights and other hosiery.
Eurofound (2020), Syntex, Closure in Poland, factsheet number 100231, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100231.