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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
198 jobs Number of planned job losses
Announcement Date
9 November 2008
Employment effect (start)
1 December 2008
Foreseen end date
31 March 2009
Description
Kinex plans to dismiss 198 employees over the next few months at its plant in Bytča . The company produces standard and special bearings used in different industrial branches, including the automotive industry. According to Kinex CEO, Robert Staroň, redundancies are caused mainly by a decline in the automotive industry, which is suffering from the world-wide economic crisis. For example, orders from customers for bearings for car water pumps has declined by 25%.
Eurofound (2008), Kynex, Internal restructuring in Slovakia, factsheet number 67548, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67548.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
