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.
Danish meat producer Danish Crown is to close its slaughterhouse in the island of Bornholm. 190 jobs are to be lost. According to the sources, after five months of negotiations with the NNF union, the company decided the closure of the abattoir on the grounds that the union would not accept a wage decrease.
As reported, the negotiation over wages was due to the need for DKK 25 million annual cuts in order to keep the facility open. The closure is expected to take place by autumn 2014.
Danish Crown has recently announced also the closure of its facilities in Faaborg.
Updated, 04-06-2014:
As reported, Dansk Industri (Confederation of Danish Industries) and NNF (Food Workers Union) proposed a rescue plan that envisages the creation of an employee investment company that will finance investments in the factory.
For 5 years the employees will invest in their workplace by providing 3.5 pc of their salary and having the opportunity to get back their contributions with a possible interest. The rescue plan is supported also by the Business and Growth Ministry. The company and the employees will have to decide on the proposed plan in June.
Updated, 12-06-2014: As reported the employees voted in favour of the rescue plan.
Eurofound (2014), Danish Crown, Closure in Denmark, factsheet number 77090, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77090.