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.
Leoni Bulgaria EOOD, the subsidiary of Leoni AG, which produces cables for the automotive industry, intends to initially reduce and subsequently permanently close its production at its plant in Pleven by the end of the year. 1300 employees will be dismissed until the final liquidation of the company. The layoffs of the workers will begin in September.
The company claims that the decision to suspend production in Pleven is entirely determined by economic factors. The reasons cited for the decision are the lack of a long-term strategic and financially sustainable perspective, difficulties in recruiting sufficient staff from the local labour market, the country's inflation, and the unstable competitive environment in the international automotive industry
Eurofound (2024), Leoni Bulgaria, Closure in Bulgaria, factsheet number 201413, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201413.
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