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 For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
926 - 1,626 jobs Number of planned job losses
Announcement Date
18 June 2008
Employment effect (start)
8 August 2008
Foreseen end date
31 December 2008
Description
In June, Malta's Prime Minister announced the start of the process leading to the privatisation of the company Malta Shipyards Limited. The process will include voluntary early retirement schemes. The company, employing about 1,626 workers in 2008, has been operating at a loss for many years. During the pre-accession talks, the government agreed to stop subsidizing the company by the end of 2008.
The government aimed to have no more than 450 to 700 employees by the time the company is sold. By reducing the number of workers, the government expects to attract foreign investors. As of September 2008, 1,485 workers have already applied for the early retirement schemes.
Eurofound (2008), Malta Shipyards Limited, Other in Malta, factsheet number 67178, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67178.
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