Telerik

Type
Internal restructuring
Country
Bulgaria
Region
Yugozapadna i Yuzhna tsentralna Bulgaria; Yugozapaden; Sofia (stolitsa)
Location of affected unit(s)
Sofia
Sector
Information / Computing
62 - Computer programming, consultancy and related activities
62 - Computer programming, consultancy and related activities
62 - Computer programming, consultancy and related activities
110 - 450 jobs
Number of planned job losses
Job loss
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.

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://apps.eurofound.europa.eu/restructuring-events/detail/91445.