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 Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture of furniture
241 - 250 jobs Number of planned job losses
Announcement Date
6 September 2005
Employment effect (start)
Foreseen end date
30 September 2005
Description
By the end of September 2005, 241 of Stratusmob employees, in Blaj (Centru region, Alba county) will find themselves jobless. The company management took this decision as a result of the heavy losses reported in 2004, caused by the depreciation of the exchange rate between the euro and the national currency, the leu. These evolutions negatively affected the financial situation of the factory whose output is mainly for export.
Redundant employees have little chance of finding other jobs locally. Their hopes lie with Bosch Rexroth, which has initiated an investment in the town. However, this investment is to be finalised only by 2007.
Sources
6 September 2005: Gandul
Citation
Eurofound (2005), Stratusmob, Internal restructuring in Romania, factsheet number 62216, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62216.
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