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.
Approximately 160 voluntary redundancies are to be made at Tara Mines, as part of a restructuring plan.
The background of this internal restructuring is the goal to ensure the mine can reopen. Tara Mines closed temporarily in mid-July 2023, resulting in the laying off of 650 workers. At the time, the owner, Boliden, said it took the decision due to unsustainable losses and cited factors including a decline in the price of zinc, inflation, and energy costs.
An agreement between the company and unions at the Workplace Relations Commission was reached to reopen the Mine with the loss of 160 jobs. This is in addition to some 50 employees who have left during the closure period due to retirement and natural attrition.
Members of the three unions – SIPTU, Connect, Unite - representing workers at Tara Mines voted to accept the agreement in early May 2024.Tara Mines is Europe's largest zinc mine.
Eurofound (2024), Tara Mines, Internal restructuring in Ireland, factsheet number 201131, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201131.