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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer programming, consultancy and related activities
110 - 450 jobs Number of planned job losses
Announcement Date
18 January 2017
Employment effect (start)
18 January 2017
Foreseen end date
31 May 2017
Description
The management of Progress Software Corporation announced 110 staff cuts at the software company Telerik - one of their companies in Bulgaria. The company has a total employee base of 650 in the country. There are also plans to cut 450 jobs worldwide, accounting for 20% of the company's total workforce. The company develops and deploys business applications.
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Sources
18 January 2017: http://www.bloombergtv.bg
18 January 2017: http://www.economic.bg
18 January 2017: http://www.investor.bg
Citation
Eurofound (2017), Telerik, Internal restructuring in Bulgaria, factsheet number 91445, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91445.
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