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.
SE Bordnetze - Bulgaria Ltd., the Bulgarian division of the Japanese company Sumitomo Electric Bordnetse (SEBN), a manufacturer of cable assemblies for the automotive industry, will close its plant in Mezdra in March 2025. About 950 people will be dismissed. Additionally, 100 jobs will be closed in its plant in Karnobat.
The Japanese-owned company has announced a 2-year plan to reorganize its operations in Bulgaria, with discontinued operations to take place in 2025. The reasons for the withdrawal from Bulgaria are the high production costs and the sharp increase in the wages in the country. The company is moving its production to Moldova and Romania.
The company’s second plant in Bulgaria, in Karnobat, will continue operating with reduced capacity. The company assures workers' representatives and trade unions have been informed of these plans. The Karnobat plant is planned to close about 100 jobs from February 2025. It currently employs around 1 000 people.
Eurofound (2024), SE Bordnetze, Closure in Bulgaria, factsheet number 201586, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201586.