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.
Radomir Metal Industries, a Bulgarian steel-maker, will lay off another 100 workers after having dismissed 600 in 2009 (see here).
This is the second time that Radomir Metal Industries cuts staff due to the economic crisis. Additionaly, more than 60 per cent of the staff of the company are currently employed part time. Towards the end of August, an additional 10 per cent of employees will be on reduced working hours.
Radomir Metal Industries is the largest company in the Radomir Municipality. The current production output is 3.5 times lower than in the first two quarters in 2009. Before the crisis, Radomir Metal Industries employed more than 1100 people, and more than 95 per cent of production was meant for export.
Eurofound (2010), Radomir Metal Industries, Internal restructuring in Bulgaria, factsheet number 70687, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70687.