Type
Internal restructuring
Country
Portugal
Region
Continente;
Location of affected unit(s)
Portugal
Sector
Manufacturing
Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products
Manufacture Of Other Non-Metallic Mineral Products
23.41 - Manufacture of ceramic household and ornamental articles

500 jobs
Number of planned job losses
Job loss
Announcement Date
7 May 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

Visabeira group is now the owner of the two traditional Portuguese porcelain companies: Vista Alegre Atlantis and Bordalo Pinheiro. The group has come up with a restructuring plan for the recovering of the two companies until 2010. The plan includes the elimination of up to 500 jobs. This represent about 25% of the total employment. The Vice President of Visabeira announced that redundancies will affect only the workers of Vista Alegre Atlantis (VAA). Besides the dismissals, the Visabeira will take other measures to cut costs, in order to "make these two businesses profitable from the the second half of 2010."


Sources

  • 7 May 2009: P├║blico

Citation

Eurofound (2009), Vista Alegre, Internal restructuring in Portugal, factsheet number 69467, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69467.