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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.2 - Manufacture of railway locomotives and rolling stock
212 jobs Number of planned job losses
Announcement Date
2 July 2014
Employment effect (start)
3 July 2014
Foreseen end date
Description
Croatian state-owned rolling stock company Gredelj (Tvornica željezniÄkih vozila Gredelj) has announced that it will cut 212 jobs.
According to the sources, in 2012 the company has declared bankruptcy, due to a decline in overseas orders and a large reduction in orders from Croatian Railways (HZ). The sources note that from 2012 the company continued to manufacture rail vehicles, honouring existing agreements whilst still under bankruptcy conditions. A new business plan was set up to reduce costs and the redundancies are a result of this.
Sources
2 July 2014: 24sata
2 July 2014: Index
Citation
Eurofound (2014), Gredelj, Bankruptcy in Croatia, factsheet number 77274, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77274.
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