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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.32 - Manufacture Of Other Parts And Accessories For Motor Vehicles
400 jobs Number of planned job losses
Announcement Date
4 September 2023
Employment effect (start)
4 September 2023
Foreseen end date
31 December 2023
Description
Yazaki, a Japanese company providing electrical and electronics distribution systems for cars, is to close its plant in Buzau (Buzau County). The closing of the plant will affect 400 employees. According to the company’s announcement, the layoffs have different causes such as the premature discontinuation of production of a car model of one of the company’s main customers, the early transition to electric models, existing shortages and the demographic situation in the region.
The restructuring process started in August and is ongoing with the involvement of employee representatives and the trade union. The company announced that it will provide to the redundant employees financial benefits, assistance and social support, beyond the minimum legal requirements.
In Romania, the first Yazaki plant was opened in 2003, in Ploiesti and had a turnover of €241 million and a profit of approx. €4 million. As for December 2022, the company had 7,250 employees in Romania.
Eurofound (2023), Yazaki, Closure in Romania, factsheet number 200294, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200294.
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.
