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 factory Peugeot-Citroen in Mangualde announced that 400 temporary contracts will not be renewed in the first quarter of 2009. The company spokesperson informed that Peugeot-Citroen provided some incentives to permanent workers who intend to leave the company.
The company management attributes the job losses to the global financial crisis which has hit the automobile sector severely. The trade union declared their availability to co-operate in order to find a solution and made an appeal to the Government. This announcement coincides with the approval of the Portuguese Government of 900 million euro plan to save the automobile sector.
Eurofound (2008), PSA Peugeot - Citroen, Internal restructuring in Portugal, factsheet number 67726, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67726.