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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
125 jobs Number of planned job losses
Announcement Date
9 November 2004
Employment effect (start)
5 November 2004
Foreseen end date
31 December 2004
Description
The textile company Castanheiro, producer of threads, announced a restructuring plan affecting 125 workers. The company justified the measure by severe economic difficulties and lack of work resulting from the competition from Asian countries. The administration dismissed the workers in the beginning of the month of November 2004. Castanheiro is installed in Portugal since 1854.
Sources
9 November 2004: Jornal de NotÃcias
Citation
Eurofound (2004), Castanheiro, Internal restructuring in Portugal, factsheet number 60752, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60752.
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