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.
Draka, which manufactures cables for the car industry, has announced the closure of its plant in Vigo, Spain, with the loss of 96 jobs. Draka is a transnational Dutch company dedicated to the production of cables for the car industry. The board of directors adopted this decision as a result of the fact that its main clients have relocated their production to countries with cheap labour in North Africa and Eastern Europe. Its factory in Vigo has 100 employees in total.
Eurofound (2008), Draka, Closure in Spain, factsheet number 68114, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68114.