Embraco

Type
Internal restructuring
Country
Slovakia
Region
Slovensko; Východné Slovensko; Košický kraj
Location of affected unit(s)
Spišská Nová Ves
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28 - Manufacture of machinery and equipment n.e.c.
28 - Manufacture of machinery and equipment n.e.c.
310 jobs
Number of planned job losses
Job loss
Announcement Date
17 October 2008
Employment effect (start)
Foreseen end date
31 December 2008

Description

Embraco Slovakia, a Brazilian producer of refrigeration compressors based in Spisská Nová Ves, is to cut 310 by the end of 2008. The job losses are attributed to the global financial crisis. The company management decided to offer redundancy payment higher than statutory minimum redundancy settlements.

Sources

  • 17 October 2008: Hospodárske noviny
  • 31 October 2008: SME

Citation

Eurofound (2008), Embraco, Internal restructuring in Slovakia, factsheet number 67354, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67354.