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.
A Slovak Tannery which produces tanned and dressed leather goods announced a sudden lay off of at least 40 employees, with further 67% of workforce in danger of losing their jobs. The plant in Liptovský Mikuláš is a manufacturer that processes domestic cowhide and imported kangaroo leather from Australia. The company has been successful in recent years, therefore the layoffs come as surprise to many. The main reason, according to spokesperson, is a drastic slump of ordered goods, mainly for automotive companies who produce car seats and upholstery. Many of their clients are mainly premium German automakers, which are struggling with the advent of electromobility and competition from China.
The first batch of laid offs were temporary workers, with agency employees following next.
Eurofound (2024), SlovTan Contract Tannery, Internal restructuring in Slovakia, factsheet number 200866, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200866.