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.
Secla, a Portuguese producer of utility and decorating earthenware, announced the loss of 250 jobs with the closure of its factory in Caldas da Rainha. The job cuts will be implemented by the end of June 2008. The closure is attributed to decline in orders. Most of the workers are aged between 40 and 50 years old and are likely to have difficulties in finding a new job. According to the coordinator of the national trade union in the industry of pottery, cement and construction, there are no delays in the payment of salaries but the company will only be able to pay 50% of the compensation due to the workers who will lose their jobs.
Eurofound (2008), SECLA, Closure in Portugal, factsheet number 66750, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66750.