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.
Ecco Slovakia, a Danish shoe company operating in Slovakia since 1998, has announced that it is to cut 283 jobs in the production plant in Martin. 107 out of the 283 employees made redundant are employed on fixed-term contract. Although the company’s sales revenue grew by 13% in 2006 (for a total of SKK 2.5 billion) compared to the previous year, the management decided to reduce the annual production capacity from 3.7 million shoe pairs to 2.8 million. According to the executive vice-president of Ecco group, Mr Jens Christian Meier, the reason behind this restructuring is increased competition as well as shortage of qualified workforce in the region. The company also aims at retaining qualified workers in the production plant. It was not announced when the job losses will be implemented.
Eurofound (2008), Ecco, Internal restructuring in Slovakia, factsheet number 66237, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66237.
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