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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17 - Manufacture of paper and paper products
100 jobs Number of planned job losses
Announcement Date
19 January 2006
Employment effect (start)
1 January 2006
Foreseen end date
31 December 2008
Description
Due to declining profits during recent years, the Hallein Papierfabrik, a paper producer which is owned by the Finnish M-real concern, announced it is to cut 100 out of its 800 employees by the end of 2008. Part of the planned redundancies shall be mitigated by early retirement schemes, opt-out models and voluntary turnover, so that staff will be reduced in the most socially acceptable manner, the management emphasised. However, it also demands the introduction of a more flexible working time scheme for the remaining workforce, an extension of the normal working hours to 40 hours per week and the abolition of overpay. According to the management, the main reasons for dropping profits are increasing prices of raw materials and energy as well as higher wages.
Sources
19 January 2006: Der Standad
19 January 2006: Die Presse
Citation
Eurofound (2006), Hallein Papierfabrik, Internal restructuring in Austria, factsheet number 62827, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62827.
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