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.
In December 2022, the CGM Ceramics initiated a special revitalisation plan (Processo Especial de Revitalização - PER). In June 2023 the company declared insolvency. A representative of the union of workers states that the management board led the company into a situation of debt and insolvency, affecting over 100 workers, most of whom are women.
On 13 October 2023, CGM Cerâmicas officially communicated a collective dismissal process for 106 workers.
According to the union representative, workers did not receive any compensations. Moreover, the union representative asserts that the company appears financially incapable of providing the due compensations for the affected workers, many of whom have worked for the company for at least 30 years.
Eurofound (2023), CGM Cerâmicas, Bankruptcy in Portugal, factsheet number 200603, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200603.