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.
Sochor, a firm that operates in the printing sector, is to close its site in Zell am See in Salzburg with the loss of 141 jobs. The site, which currently employs 156, will be closed by the end of 2007. The firm’s Chief Executive Officer, Bodo Schmischke, has stated that the reason for the closure is that the site is no longer competitive. Sochor was acquired by the German printing group Arquana in 2005. The management of Sochor and Arquana have offered those workers affected by the restructuring the opportunity to work at the WUB printing company in Innsbruck, which is also owned by Arquana. However, virtually all of the employees concerned have refused this offer. Management and local trade unions have agreed on a social plan for the affected employees, and the regional public authorities in Salzburg are also developing a re-employment scheme for the affected workers with managers at Sochor and Arquana.
Eurofound (2007), Sochor, Closure in Austria, factsheet number 66000, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66000.