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.
Yazaki Saltano, a Japanese multinational that produces vehicle cables and, has two units and one technical center in Portugal, employing 2235 workers, announced the closure of the Vila Nova de Gaia factory. The decision is justified by the end of production of car components in a global contex of pressure for costs reduction.
Yazaki Saltano managed to place 60 workers from the Vila Nova de Gaia factory in two new units of the internal business but did not find any valid alternatives for the remaining 400 workers.
The Logistics Direction , Financial, Human Resources, Systems & Information Technologies and the PTC will remain in Gaia.
The company has an agreement with IEFP - Institute for Employment and Vo cational Training (Instituto de Emprego e Formação Profissional, IAPMEI - Instituto de Apoio às Pequenas e Médias Empresas e à Inovação (Institute of Support to Small and Medium Companies and innovation) and Instituto de Segurança Social (Social Security Institute) to create a 'support plan' for its workers in order to help them find a new job or create their own enterprise.
The Industry and energy national trade union (SIDEL) is studying, in partnership with the company, measures that will minimize the impact on the workers affected by the dismissal process. Yazaki Saltano already announced that it will offer severance terms beyond those required by the law.
Eurofound (2008), Yazaki Saltano, Closure in Portugal, factsheet number 66541, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66541.