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 Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
193 jobs Number of planned job losses
Announcement Date
3 February 2009
Employment effect (start)
Foreseen end date
Description
The Corticeira Amorim, a family-run firm producing cork for the wine industry, has announced the collective dismissal of 193 employees. According to the cork trade union delegate the workers were surprised because they thought the company was in a good financial situation. The collective dismissals will affect 75 workers in the cork stopper production unit and 118 in the composite pallet unit. The job losses are attributed to a decrease in demand resulting from the worldwide economic downturn affecting both the production of composite pallets and cork stoppers.
Sources
3 February 2009: tsf
Citation
Eurofound (2009), Corticeira Amorim, Internal restructuring in Portugal, factsheet number 68355, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68355.
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