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
New offshoring locations
Slovakia, Turkey
533 jobs Number of planned job losses
Announcement Date
18 January 2007
Employment effect (start)
31 December 2007
Foreseen end date
Description
Yazaki Saltano, a Japanese multinational that produces vehicle cables, has three units in Portugal, employing 2,788 workers. On 18 January 2007, Yazaki Saltano announced the closure of the Ovar factory, which employs 533 people. The decision is justified by the transfer of the production to Slovakia and Turkey. The company has approved a 'support plan' for its workers in order to help them find a new job or create their own enterprise. Additionally, the company has an agreement with IEFP - The Employment and Vocational Training Institute (Instituto de Emprego e Formação Profissional) in Aveiro, by which technical staff will be available to support the workers when they register in the employment centre. They will also be provided with vocational training courses and advice on job interviews. Yazaki Saltano will offer a compensation package of 1.75 wages per year of service, plus 2 wages and an additional bonus corresponding to 2 other months. In the meantime, Yazaki Saltano is to set up a European prototype centre which will create 150 jobs and where some of the affected employees in Ovar may be offered a transfer. The location of this centre is still unknown.
Sources
17 January 2007: Jornal de Notícias
8 January 2007: Público
18 January 2007: Público
Citation
Eurofound (2007), Yazaki Saltano, Offshoring/Delocalisation in Portugal, factsheet number 64807, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64807.
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