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.
On 20 January 2006, the supervisory board of the traditional Styrian company Vogl&Noot Wärmetechnik decided to close down the production of flat heating elements at its site in Wartberg. The company, a subsidiary of the Finnish Oy Rettig Group, is a specialist in heating and indoor climate regulation engineering. As a consequence of the planned closure of this business segment, about 170 employees stand to lose their jobs. According to the management, bipartite negotiations over a social plan have already been taken up. The production of heating elements is planned to be shifted to Hungary and Poland, where pay and non-wage labour costs are supposed to be cheaper.
Eurofound (2006), Vogl&Noot Wärmetechnik, Offshoring/Delocalisation in Austria, factsheet number 62814, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62814.
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