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.
German chip maker Qimonda announced 315 dismissals and 135 temporary layoffs at the factory in Vila do Conde. The temporary lay-off will be effective until April 2010. As of October 2009, there is no information on when the dismissals will occur.
Qimonda recently declared backruptcy. The administration explained that these measures have followed the insolvency plan and are considered crucial for making the company a viable one.
The management also explained that the company's criteria for the selection of workers to be kept in the factory took into account the negative implications for more vulnerable groups, for example, lone parents with dependent children and couples working in the factory.
The Portuguese authorities applied for aid from the European Globalisation Adjustment Fund (EGF) and it is currently being implemented.
Eurofound (2009), Qimonda, Bankruptcy in Portugal, factsheet number 69770, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69770.