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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14 - Manufacture of wearing apparel
European Globalisation Fund (EGF)
Year: 2007, Case number: 8
New offshoring locations
Various Locations
570 jobs Number of planned job losses
Announcement Date
19 June 2007
Employment effect (start)
19 June 2007
Foreseen end date
31 August 2007
Description
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.
Eurofound (2007), VF Corporation, Offshoring/Delocalisation in Malta, factsheet number 65523, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65523.
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