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.
Pilkington Automotive, a Finnish manufacturer of glass-products for vehicles, dismisses a total of 102 employees at its production units in Tampere and Laitila. The reductions cover all employee groups. In addition, all employees from both units will be temporarily laid off for a maximum of 90 days. Some 16 employees will be temporarily laid off for an open-ended period.
According to Pilkington Automotive, these changes are needed due to the sudden drop in demand during Spring 2020. The company argues that sales decreased by 50% as a result of the COVID-19 crisis. The company estimates that the COVID-19 crisis will have long-lasting effects on the market.
Pilkington Automotive has approximately 580 employees. Company's net sales for 2019 were €99,47 million with profit €4,57 million. The company’s net sales increased by 7% between 2018 and 2019.
Eurofound (2020), Pilkington Automotive, Internal restructuring in Finland, factsheet number 101540, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101540.