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 Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.53 - Casting of light metals
500 jobs Number of planned job losses
Announcement Date
14 April 2008
Employment effect (start)
15 April 2008
Foreseen end date
25 February 2009
Description
TCG Unitech, a Slovenian manufacturer of aluminum alloys and tool-making facilities for on-site use, has announced that it is to cut 300 jobs by the end of 2008. The job losses are attributed to the economic downturn affecting the car manufacturing industry (Unitech’s main customer). Dismissals will be avoided and job losses will be implemented by non-renewal of fixed-term contracts and through natural decline (departures/retirement). Workers holding permanent contracts will not be affected by the restructuring. TCG Unitech is largely owned by the British Trident Components Group (TCG). The management says that further reduction of employment may be necessary if the recession continues.
As of February 2009, the reduction of orders in the range of 30% is higher than expected, therefore the employment was further reduced, i.e. by 500 people altogether.
Sources
14 April 2008: Finance
27 October 2008: Finance
25 February 2009: Delo
Citation
Eurofound (2008), TCG Unitech, Internal restructuring in Slovenia, factsheet number 66512, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66512.
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