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 Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.1 - Manufacture of basic iron and steel and of ferro-alloys
300 jobs Number of planned job losses
Announcement Date
30 March 2015
Employment effect (start)
1 April 2015
Foreseen end date
30 June 2015
Description
Slovak mini steelworks Slovakia Steel Mills (SSM) in Strazske declared bankruptcy and is to make more than 300 out of 400 workers redundant. The rest of staff will remain for maintenance works. The company, which produces wire and concrete steel, stopped its production in December 2014. InFebruary 2015, the court decided on the bankruptcy. According to the trade union representative, Dusan Varga, most employees agreed to have their employment contract terminated with an entitlement to severance pay. There is a possibility that the company will be sold and continue its business with a new owner.
Sources
30 March 2015: SME
Citation
Eurofound (2015), Slovakia Steel Mills, Bankruptcy in Slovakia, factsheet number 79202, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79202.
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