Lear Corporation

Type
Closure
Country
Portugal
Region
Continente; Norte; Área Metropolitana do Porto
Location of affected unit(s)
Valongo
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
182 jobs
Number of planned job losses
Job loss
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, Lear’s 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://apps.eurofound.europa.eu/restructuring-events/detail/63590.