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.
VF Corporation, the largest textile company on the island, announced on 19 June 2007 that due to the strong competition it was facing it will shift its activity to Asia where labour is cheaper. Hence, by the end of August, the 570 workers employed by VF will be made redundant. The company had already laid off about 240 employees back in 2001. The company's management reported that it shall provide severance benefits to employees and work with the Employment and Training Corporation (ETC) to provide career transition assistance.
The Maltese authorities had previously applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2007), VF Corporation, Offshoring/Delocalisation in Malta, factsheet number 65523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65523.