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 27.40 - Manufacture Of Electric Lighting Equipment
300 - 420 jobs Number of planned job losses
Announcement Date
17 February 2025
Employment effect (start)
1 February 2025
Foreseen end date
Description
ZKW Slovakia, an Austrian automotive manufacturer of electrical lights, announced to the Labour office that the company will lay off 300 to 420 employees.
The company says that the layoffs are intended to increase operational efficiency. Won Yong Hwanga, the general manager of ZKW Group GmbH, said that the company plans to reduce the number of employees to ensure its competitiveness.
According to a spokesperson of the Labour office, there is enough opportunities nearby for workers to find new occupation. At least 30 workers left voluntarily, the rest will have their contracts terminated, according to the labour code. Some contracts were terminated due to various reasons such as the expiration of contract, trial period completed, or due to mutual agreement.
ZKW employs around 3000 people, making it the second largest employer in the Nitra region.
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.
