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.
Progress AD, an iron casting enterprise based in Stara Zagora, is laying off 241 of its total staff of 400 employees. The company filed a notice to the labour office informing it about the redundancies planned for the period January-April 2009. The company is a manufacturer of gray and nodular iron castings, exporting some 70% to other European countries. Slavin Yanakiev, CEO of the company, had hoped to have to cut only 120 workers.
Eurofound (2008), Progress, Internal restructuring in Bulgaria, factsheet number 68141, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68141.