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.
The Embraco – a Brazilian multinational company, which produces components for household equipments and is part of the Whirlpool group - is to cut 250 jobs. This announcement follows the reorganisation plan announced on February 2005, which envisaged the loss of 485 jobs within the 2011. In order to reduce the negative social effects for the redundant workers, the company, the trade unions and the Ministry of Labour reached an agreement the envisages the recourse, for two years, to the ‘special’ Wages Guarantee Fund - a ‘social shock absorber’ that intervenes in cases of restructuring, reorganisation, closure, change of activity or economic difficulties - or, alternatively, the recourse to economic incentives for voluntary resignations.
Eurofound (2008), Embraco Europe, Internal restructuring in Italy, factsheet number 60882, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60882.