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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.51 - Casting of iron
120 jobs Number of planned job losses
Announcement Date
24 June 2020
Employment effect (start)
29 June 2020
Foreseen end date
29 July 2020
Description
Vald Birn is active in iron casting in Denmark and primarily supplies the auto industry. The company has experienced lower demand due to the Corona-crisis and has laid off 120 employees. Despite state funded salary compensation for 140 employees, the company expects lower demand in the future and the yearly turnover in 2020 to be 33 per cent lower than 2019. Since the state funded compensation will not continue, the company has decided to restructure, so the number of employees reflects the lower demand for parts. The auto industry in Sweden and Germany are affected by the Corona-crisis and this also affects Vald Birn as truck producers in these two countries account for 60% of the Danish company's production.
Eurofound (2020), Vald Birn, Internal restructuring in Denmark, factsheet number 101160, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101160.
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.
