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.
The Vienna based temporary work agency ‘Akademischer Gästedienst Österreich GmbH’ (AGO) has announced it will apply for insolvency proceedings next week. The insolvency affects 278 employees, predominantly staff working in IT. More than 100 employees are currently on placement working at the Vienna Association of Hospitals (Wiener Krankenanstaltenverbund). The company already faced restructuring measures in 2014 which halved headcount. According to newspapers, AGO's troubles result from its subsidiary in Bratislava losing an important contract. Because banks are blocking access to funds, the company is not able to pay November wages or Christmas bonuses.
Eurofound (2015), AGO, Bankruptcy in Austria, factsheet number 85607, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85607.