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 - Manufacture of electrical equipment
189 jobs Number of planned job losses
Announcement Date
3 March 2005
Employment effect (start)
1 January 2005
Foreseen end date
31 March 2005
Description
On 3 march 2005, Whirlpool Slovakia announced a restructuring plan. Mostly workers are concerned by the lay-off. According to the CEO of Whirlpool Slovakia, redundancies are caused by a permanent strengthening of the SKK/Euro exchange rate as well as the high inflation in the country. Whirlpool Slovakia is also affected by a decrease of competitiveness in comparison with Turkish and Italian competitors.
Sources
3 March 2005: SME
Citation
Eurofound (2005), Whirlpool Slovakia, Internal restructuring in Slovakia, factsheet number 61212, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61212.
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