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 Textiles 13 - Manufacture of textiles
182 jobs Number of planned job losses
Announcement Date
23 June 2009
Employment effect (start)
23 June 2009
Foreseen end date
Description
The traditional textiles producer F.M. Hämmerle, headquartered in Dornbirn, Austria, again filed for bankruptcy on 22 June 2009; all of the 182 employees stand to lose their jobs.
In the summer of 2008 its predecessor company went bankrupt, and in the course of the bankruptcy proceedings was taken over by the India-based Oswal group. According to the creditor protection association KSV 1870, cuts in turnover by up to 50% have forced management to file for bankruptcy. This is due to continuously deteriorating market conditions for the European textile industry, which can no longer compete with Asian low-standard production.
The provincial president of the Austrian Trade Union Federation (Österreichischer Gewerkschaftsbund, ÖGB) of Vorarlberg, Norbert Loacker, has shown consternation and has urged management to conclude a social plan for the workers affected. The official receiver plans to completely close down the company.
Sources
23 June 2009: Der Standard
30 July 2009: Der Standard
Citation
Eurofound (2009), F.M. Hämmerle, Bankruptcy in Austria, factsheet number 69240, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69240.
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.
