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.
Yazaki Wiring Technologies Slovakia is a subsidiary of Japanese automotive giant Yakazi. The company manufactures automotive wiring and cable harnesses for car interiors. The company announced a full closure of their facility in Michalovce with a transfer of production to the group's assembly lines in Romania. As a result all 207 employees will be dismissed. This will happen in several waves over the next 12 months. The company will shut down in June 2025. The first wave of employees have already been let go. This will end Yazaki's presence at Michalovce, which goes back three decades. As recently as 2016, over 3,000 workers were employed at the unit. The company offers several levels of severance based on tenure. These go beyond levels foreseen in the labour code based on earlier negotiations with unions. Those who have worked in the plant for two to five years receive four months of severance pay, those who have worked ten years six months of severance pay and ten months of severance for those with over twenty years of tenure.
Eurofound (2024), Yazaki Wiring , Offshoring/Delocalisation in Slovakia, factsheet number 201433, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201433.
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