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.
Slovak Ozeta Neo Company, one of the biggest producers of mens' ready-made clothes in Slovakia, has announced that it will close down its production plant in Tornala with the loss of 620 jobs. The plant is due to close in September 2007. The local council is to negotiate with the company management over the council taking over the plant in order to save as many jobs as possible. According to the Mayor of Tornala, Ladislav Dubovský, the closure of the plant would have a radical impact on the regional labour market and would result in a 36% unemployment rate. Therefore, the council will attempt to keep the plant running although with less employees.
According to the latest information, that rescue project failed and all employees have definitely lost their jobs.
Eurofound (2007), Ozeta Neo, Closure in Slovakia, factsheet number 65616, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65616.