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.
Mining / Quarrying Mining And Quarrying Mining Of Metal Ores 07 - Mining of metal ores
600 jobs Number of planned job losses
Announcement Date
28 October 2008
Employment effect (start)
Foreseen end date
30 November 2008
Description
Siderit Company, the last Slovak iron ore mine based in Nižná Slaná, is to close due to bankruptcy and dismiss all 600 employees by the end of November 2008. The main reason is the company’s inability to pay off a SKK 200 million debt to the Slovak Gas Company SPP. The bankruptcy took place in spite of more than SKK 100 million state subsidies provided to the mine. People hesitate to accept employment in the coal mines in Nitra region because of hard working conditions and long commuting time.
Sources
28 October 2008: Hospodárske noviny
28 October 2008: SME
Citation
Eurofound (2008), Siderit, Bankruptcy in Slovakia, factsheet number 67313, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67313.
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