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.
In December 2005, French car manufacturer PSA Peugeot-Citroën had announced the extension of its business activities in Slovakia. The car manufacturer intended to invest in two new manufacturing plants in Trnava in the Zapadne Slovensko region, representing an investment of initially 700 million EUR to be followed by a further 357 million EUR. The first manufacturing plant would produce 300,000 cars per year and create 3,500 new jobs by 2009. The second manufacturing unit would produce a new car model in 2009, with a production capacity of 150,000 cars per year. Around 1,800 new jobs are going to be created in this second unit. Since the beginning of 2006, 600 new employees for the first manufacturing plant have been hired bringing total number of employment there, to around 2,000. Almost 670 of them are in managerial positions. A further 1,910 employees, 1,200 of them blue collar workers, will be employed by the end of 2006. 80% of them will be hired already by the end of July. In order to be able to recruit qualified staff, company management is actively cooperating with secondary vocational and apprentice schools in the region. Regular production has started, and the first 19 Peugeot 207 left the plant on 31 May 2006. Presently PSA management announced its decision not to extend the production planned for 2009.
Eurofound (2005), PSA Peugeot Citroen Slovakia, Business expansion in Slovakia, factsheet number 62603, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62603.
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