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.
Manufacturing Manufacture of textiles, apparel and leather Manufacture of wearing apparel 14 - Manufacture of wearing apparel
300 jobs Number of planned job losses
Announcement Date
6 December 2024
Employment effect (start)
Foreseen end date
31 March 2025
Description
Makyta, a Slovak textile manufacturer, announced the complete shutdown of its clothing production after nearly 30 years in business. The company will lay off all of its 302 employees, 98% of whom are women.
The company will close because of adverse market conditions, and cites among the reasons and increase of production costs, namely, electricity, gas, spare parts but most importantly the wages, which are in fact similar to a minimum wage in Slovakia, as pointed out by the director of the plant.
Redundancies will affect all the employees. The company offers severance packages, in accordance with the law.
The labour market in the area is not very flexible and can accommodate only about 10 to 20 of Eterna's employees, according to the plant director.
Eurofound (2024), Eterna, Closure in Slovakia, factsheet number 202425, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202425.
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