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 steel tube manufacturer Voestalpine Tubular located in Kindberg, Styria, is to lay off 175 out of its current 900 workers by October 2009, after some 80 staff were already made redundant in early 2009. Due to decreasing order intakes as a result of the global economic turndown, the company is prompted to reduce production and change to a two-shift system. Moreover, the current short-time work arrangements are planned to be extended. Management has announced to negotiate a social plan for the employees affected, including an option to enter the existing re-employment scheme for the steel industry (Stahlstiftung).
As reported, Austria has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2009), Voestalpine Tubular, Internal restructuring in Austria, factsheet number 69406, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69406.