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.
Iskra Avtoelektrika, a manufacturer of electrical equipment for engines and vehicles (alternators, starter motors, integrated flywheel starters, mechatronics, electric motors, electronic controllers etc.), has announced to cut 245 jobs by the end of 2009. The cuts are blamed on the 40% decline in orders.
At present, Iskra Avtoelektrika employs 1500 employees. In mid 2008, the company employed 2000 people - see factsheet ID 13195 - meaning that total effect of economic downturn was a loss of 745 jobs. The company expects that the market situation will improve by the end of 2009.
Eurofound (2009), Iskra Avtoelektrika, Internal restructuring in Slovenia, factsheet number 69342, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69342.