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.
Construction company Opway announced that it will initiate a collective dismissal procedure affecting 200 of its 650 employees.
The company's management said this is a decision required to maintain the viability of the company and to prepare it for the challenges ahead and to preserve the remaining structure. This decision is questioned by the trade union who claim that other options would be possible.
The company already dismissed 65 workers in February 2011.
Opway is owned by Rioforte, the investment society of Espírito Santo Group.
Eurofound (2011), Opway, Internal restructuring in Portugal, factsheet number 72383, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72383.