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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23.13 - Manufacture of hollow glass
220 jobs Number of planned job losses
Announcement Date
3 June 2004
Employment effect (start)
1 April 2004
Foreseen end date
31 May 2004
Description
The Slovak traditional hollow glass producer Slovglass in Poltár dismissed 220 employees in April and May 2004. From 1,750 employees working there by the end of 2002 only 1,118 remained in June 2004. About 95% of the company’s production is exported and almost 60% is sold in the US and UK markets. Redundancies were caused by increased energy prices in Slovakia and by the strengthening of the Slovak crown exchange rate with regard to the US dollar and British pound.
Sources
3 June 2004: Hospodárske noviny
3 June 2004: Pravda
Citation
Eurofound (2004), Slovglass, Internal restructuring in Slovakia, factsheet number 60400, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60400.
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