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.
Board manufacturer Cartamundi (previously Hasbro) is to close its factory in Waterford city with the resulting loss of 234 jobs.
The factory has been in Waterford since 1977. The closure will be phased over a number of months until August 2023.
Management blamed a post-Covid decline in demand for board games as well as increasing energy costs for its decision.
The SIPTU trade union agreed a redundancy package for its members at the plant of the statutory rate plus four weeks’ pay for every year of service, with the ex gratia payment element capped at 55 weeks.
Eurofound (2023), Cartamundi, Closure in Ireland, factsheet number 109122, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109122.