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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
202 jobs Number of planned job losses
Announcement Date
30 October 2004
Employment effect (start)
30 October 2004
Foreseen end date
31 December 2004
Description
The American company Lear Corporation announced a restructuring plan affecting 202 workers, whose contracts will be terminated by mutual agreement. Lears management offers 1.1 month wages per year of service. Management states the lack of work to justify the measure. Unions consider it another case of delocalisation to countries where the work force is cheaper (the group already has a plant in Morocco and Tunisia). The company Lear produces components for the automobile sector. Lear is installed in Portugal since 1988 and has three plants in Portugal.
Sources
30 October 2004: Jornal de Notícias
Citation
Eurofound (2004), Lear Corporation, Internal restructuring in Portugal, factsheet number 60724, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60724.
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