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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
New offshoring locations
Slovakia, China
250 jobs Number of planned job losses
Announcement Date
24 October 2019
Employment effect (start)
31 March 2020
Foreseen end date
30 June 2020
Description
Secop, a manufacturer of refrigerating compressors, will dismiss around 250 employees in Fürstenfeld by mid-2020. Due to the weak market conditions and high production costs, production will be offshored to facilities in Slowakia and China. However, another 100 administrative positions will be kept. Together with the worker's council, the company's management is working on a redundancy programme. Additionally, a labour foundation shall be established in cooperation with the local labour agency.
The Austrian Secop plant is a part of an international group that specialises in household, light commercial and battery-powered energy-efficient compressors for refrigerators. Currently, Secop-Group has around 1,800 employees worldwide.
Eurofound (2019), Secop, Offshoring/Delocalisation in Austria, factsheet number 98963, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98963.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
