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.
Alcoa Fujikura, a company that produces vehicles cables in Seixal, is in a process of collective dismissal. The closing of Alcoa, as announced on 23 November 2006, is part of a larger programme of restructuring: the multinational foresees a reduction of 5% of workers, which means a cut of 6,700 jobs all over the world. The production from the Portuguese unit in Seixal will be transferred to Hungary. Alcoa is offering affected workers a compensation of two wages per year of service and a bonus of 1,000 euro. This process will affect 480 workers in Seixal.
As reported, Portugal has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2006), Alcoa Fujikura, Offshoring/Delocalisation in Portugal, factsheet number 64808, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64808.