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.
ZKW Slovakia, an Austrian automotive manufacturer of electrical lights, announced to the Labour office that the company will lay off 300 to 420 employees.
The company says that the layoffs are intended to increase operational efficiency. Won Yong Hwanga, the general manager of ZKW Group GmbH, said that the company plans to reduce the number of employees to ensure its competitiveness. According to a spokesperson of the Labour office, there is enough opportunities nearby for workers to find new occupation. At least 30 workers left voluntarily, the rest will have their contracts terminated, according to the labour code. Some contracts were terminated due to various reasons such as the expiration of contract, trial period completed, or due to mutual agreement.
ZKW employs around 3000 people, making it the second largest employer in the Nitra region.
** Updated, 20/10/2025**: As of September 2025, ZKW have only laid off 44 employees this year, reversing the course set out at the beginning of the year. Now there are plans to hire 200 workers by the end of 2025.
Eurofound (2025), ZKW Slovakia, Internal restructuring in Slovakia, factsheet number 202417, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202417.