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.
Vihorlat Company in Snina belonged to Slovak mechanical engineering companies, a group with a long-term tradition. It was one of the most important employers in the region, too. The Company had economic problems for a couple of years and, in order to revitalise the company, some organisational changes took place there. However, it seems that these attempts were not very successful. According to the chair of local trade union organisation Mr František Cenkner, 165 employees were dismissed due to organisational changes in the company till the end of April 2006. Mr Cenkner added that mass redundancy will continue in the Company where next 208 employees would be redundant in June 2006. Announced dismissals will practically cause the closure of the company.
Eurofound (2006), Vihorlat, Closure in Slovakia, factsheet number 63458, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63458.