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.
On 25 June 2010, Swiss lingerie manufacturer Triumph International announced plans to close down its production site in the Styrian town of Hartberg, dismissing all 290 employees.
A drop in sales has forced the company to reduce its excess capacity by shutting down the production site, according to the company's spokesperson Jörg Ebner. While the domestic business has remained fairly stable throughout the crisis, the company has faced a serious decrease in demand on the international market, foremost in Eastern Europe.
The Hartberg production plant employs almost exclusively female workers, who sew briefs for brands like Sloggi. Since June 2009, all employees in Hartberg and 472 employees at the other three Austrian production sites have been working short-time. According to management, the short-time work has now been terminated at all plants.
The company's plan of closing down the production site in the economically underdeveloped area in Eastern Styria was met with fierce criticism from the local Labour Market Service (AMS), the town's mayor and the PRO-GE trade union. Triumph has promised a social plan and money for cases of hardship. A social plan is being considered.
Triumph International employs 37.500 workers world-wide, 1.800 of them in its four Austrian sites. There is no threat of further closures in Austria, according to the company. Triumph made a profit in 2009.
Eurofound (2010), Triumph International, Closure in Austria, factsheet number 70650, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70650.
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