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.
Austrian company JAF, manufacturer of wood and wood products has announced plans to cut 90 jobs by October 2020, at its Brasov plant. In 2018 the company registered net losses of RON 4,7 million (€ 1 million) while in 2019 it registered net losses of RON 47,3 million (€ 9.7 million).
The company states that they have to stop the production due to issues caused by COVID-19.
The unions did not react to the announcement.
JAF Group entered the Romanian market in 2006 and curently employs 350 workers. The JAF Group was founded in 1948 at the company’s head office in Stockerau (Austria), with employees at 59 sites in 18 countries including Austria, the Czech Republic, Slovakia, Hungary and Croatia.
Eurofound (2020), JAF Romania, Internal restructuring in Romania, factsheet number 101652, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101652.
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