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.
Boxmark Leather, a supplier of leather covers for the automobile and aviation industry, will lay off 120 workers by the end of December 2024.
The reason for the layoffs is the lower demand in the German automotive industry. The company was successfully winning new deals and even recruiting at the beginning of the year, but later orders had fallen by up to 30%. Marjan Trobiš, CEO of Boxmark Leather, said that the outlook for the future has been falling weekly for all car manufacturers.
Trobiš has announced that the Slovenian company will no longer be involved in series production for the automotive sector in Slovenia. Instead, the company will focus solely on the aviation industry. Production for the automotive industry will be relocated to companies in Croatia and Bosnia and Herzegovina due to unsustainable future price pressures if production remains in Slovenia.
Eurofound (2024), Boxmark Leather , Offshoring/Delocalisation in Slovenia, factsheet number 201524, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201524.