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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.1 - Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
360 jobs Number of planned job losses
Announcement Date
24 August 2020
Employment effect (start)
1 September 2020
Foreseen end date
Description
ATB Spielberg, a manufacturer of electic motors located in the Styrian federal-state of Austria, has closed its production plant and thus has dismissed 300 employees. The unions PRO-GE and GPA-djp have protested against the course of action of the Chinese owner and its plans to close the plant. Since late 2011, ATB belongs to the Chinese Wolong Group. In addition to the plant in Spielberg, ATB owns facilities in Germany, Great Britain, Poland and China. The company has 3,500 employees worldwide.
Update 21/10/2020
Following lenghtly negotiations, the creditors finally approved a restructuring plan for ATB. As a result, 360 of the 400 employees will be dismissed. While production is shut down completely, logistics and sales staff remain at the site in Spielberg. The 1,400 creditors of the bankrupt company have claimed a total of €22 million outstanding accounts.
Eurofound (2020), ATB Spielberg, Bankruptcy in Austria, factsheet number 101823, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101823.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
