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 30.20 - Manufacture of railway locomotives and rolling stock
120 - 220 jobs Number of planned job losses
Announcement Date
24 August 2014
Employment effect (start)
1 September 2014
Foreseen end date
31 December 2014
Description
Croatian rolling stock manufacturer TZV Gredelj is to cut up to 220 jobs from the beginning of September 2014. As announced the state-owned firm plans to close the production sites for coaches and trains by the end of the year and focus only on the production of locomotives.
The factory went bankrupt as of October 2012 and till then a cost reduction rationalisation plan is implemented. According to the sources, 120 planned job cuts are announced by one of the creditors but the union refers to the possibility that up to 220 jobs will be affected.
Sources
24 August 2014: 24sata
Citation
Eurofound (2014), TZV Gredelj, Internal restructuring in Croatia, factsheet number 77463, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77463.
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