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 Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
100 jobs Number of planned job losses
Announcement Date
17 March 2006
Employment effect (start)
20 March 2006
Foreseen end date
31 December 2006
Description
Iskratel is a telecommunication equipment company producing switching systems for telephone networks. The company is 52% owned by a Slovenian holding and 48% by Siemens. In 2005, Iskratel's financial performance deteriorated due to problems on the Russian market, a key market for the company. Even though the company introduced a new generation of switching systems, it is not a market leader and the improvement of cost efficiency is of crucial importance. This is to be achieved through reduction of employment. The company aims to avoid forced redundancies. Those threatened by job loss are people with secondary education but also the engineers, whose knowledge, according to the company »is good but not top level«. Siemens is interested in acquiring the majority of shares but domestic owners have not yet responded. Unofficial sources say that ending the business co-operation with Siemens would endanger another 300 to 400 jobs in Iskratel.
Sources
20 March 2006: Finance
Citation
Eurofound (2006), Iskratel, Internal restructuring in Slovenia, factsheet number 63182, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63182.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
