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.
Toly Products Limited, a global supplier of high-quality plastic packaging components for cosmetic products is laying off 84 workers. The multinational company which was founded in 1971, employs over 450 workers in its plant in Malta and its one of the country's biggest employers. On the 22 October 2008 , the company announced that it would be reducing the workforce of its Maltese plant. The persons to be dismissed consist of 78 workers at production level and six managers. Andy Gatesy, the Chief Executive Officer of Toly Products Limited, said that while the company has not lost any of its clients, the uncertainty in the global market has decreased its orders. This has forced the company to issue such redundancies. The General Workers’ Union and the Employment and Training Corporation are cooperating with the management to help the workers who have been affected.
Eurofound (2008), Toly Products, Internal restructuring in Malta, factsheet number 67538, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67538.