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.
Boxmark Leather, a supplier of leather products for the automobile industry, will lay off 350 workers by the end of September 2020. At the beginning of this year, the company announced a restructuring programme affecting 900 employees, however, only 288 dismissals were considered at that point (company announcement from March 2020). A new announcement is adding 350 additional redundancies. The management told the trade union that corona crisis and a drop in orders in the automotive and aviation industry (40% and 80% decrease in respective industries) led to a reduction of production.
Eurofound (2020), Boxmark Leather, Internal restructuring in Slovenia, factsheet number 101259, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101259.