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.
Slovak IT developer Vacuumlabs in Bratislava plans to recruit additional 100 employees in 2021. The new positions will mainly be designers, programmers and software developers. The firm has high expectations from its staff as it is competing with the best global developers, and it enables for its talented staff to participate on large global projects. Meanwhile, the firm plans to raise its revenues by 80% on year to €18 million in 2021.
The company has managed to increase its revenues by 20% on year in 2020. Meanwhile, the number of employees has grown by 10% on year to 300. The Vacuumlabs runs its business since 2012 and offers complex consultancy, design and development of mobile and web applications for digital banking and fintech. In 2023, the firm plans to hire another 600 employees and to raise its revenues to €40 million annually by the end of 2023. During the pandemic year, the firm opened new business branches in New York and in Hong Kong, which were added to the ones in Luxembourg and in London.
Eurofound (2021), Vacuumlabs, Business expansion in Slovakia, factsheet number 104918, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104918.