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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
182 jobs Number of planned job losses
Announcement Date
30 May 2006
Employment effect (start)
Foreseen end date
Description
Lear, a company that produces vehicles cables in Valongo, close to Porto, is in a process of collective dismissal. Among a total of 285 workers, 182 have accepted to terminate their contracts by mutual agreement. In this case, Lears management offers a compensation of 1.85 wages per year of service (1.85monthly wageyear of service), plus diuturnities (seniority benefits). Concerning collective dismissals, the company offers one wage by year of service (1monthly wageyear of service), according to the law.
Sources
30 June 2006: Público
Citation
Eurofound (2006), Lear Corporation, Closure in Portugal, factsheet number 63590, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63590.
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