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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
120 jobs Number of planned job losses
Announcement Date
16 June 2004
Employment effect (start)
16 June 2004
Foreseen end date
Description
Steel construction company Moeskops Constructie has been declared bankrupt. According to the company's director M. van Weert, the appointed receiver has to study the opportunities for a possible resumption of Moeskops Constructie operations. The company was facing financial difficulties, as a result of which it implemented a restructuring programme in the summer of 2003 (13 employees were laid off). In April 2004 it became clear that the slowdown in the domestic steel construction sector would continue and the steel prices continue to increase and there is a strong competition outside western Europe. Van Weert believed in April 2004 that the company would have enough survival chances through the cut of 50 of the then 120 jobs. The company planned to negotiate a social plan for the redundant employees with trade unions but currently the company does not have funds for a social plan, as well as for the unpaid salaries of its employees.
Sources
16 June 2004: Eindhovens Dagblad
Citation
Eurofound (2004), Moeskops Constructie, Bankruptcy in Netherlands, factsheet number 60414, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60414.
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