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.
The textile company Meneses e Pacheco, located in Vila Verde (Braga) has closed this month due to cumulative losses which included debts to unpaid workers. The 160 workers affected by the closure of the company are mainly women.
With no prospects of receiving the wages due in the short-term, the workers decided to accept the collective dismissal in order to be able to receive unemployment benefits. According to the representatives of the textile trade union of Minho the law of collective dismissals is not being respected.
Eurofound (2008), Meneses e Pacheco, Closure in Portugal, factsheet number 66951, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66951.