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.
170 out of current 510 employees of the Austrian subsidiary of the German shoe manufacturer Gabor will be dismissed in mid-November 2006. This information was released by Achim Gabor, the CEO at the companys headquarters in Rosenheim, Germany, on 19 September 2006. The affected workers are all employed at the companys only production site in Austria located in Spittal/Drau. According to Mr Gabor, the main grounds for restructuring are to be found in a shift in demand entailing significant labour costs increases and a considerable rise in prices of raw materials, in particular leather. After restructuring, only 3,500 pairs of shoes will be produced per day instead of currently around 6,000. The plant management and the works council have already started talks about possible socially acceptable solutions for the workforce concerned. The plant has repeatedly been subject to substantial restructuring since 2003, when it employed about 950 employees.
Eurofound (2006), Gabor, Internal restructuring in Austria, factsheet number 59364, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59364.