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.
Swiss manufacturer of footwear Rieker has announced plans to close its plant in Lugoj (Timis County) in spring 2019. As a result, all 663 employees will be made redundant. According to a spokesperson for the company, the reasons behind the closure are the competitiveness of the labour market, the shortage of skilled workforce and the high costs of the employees’ transportation to the factory. The company stated that they will take all the statutory social protection measures.
Globally, Rieker has a workforce of about 20,000 people across 5 countries.
Eurofound (2019), Rieker, Closure in Romania, factsheet number 96678, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96678.