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.
At the end of February 2009, Styria Vzmeti, a producer of fasteners, screw machine products, chain and springs, located in Ravne na Koroškem, reduced its workforce by 146 workers and now employs 115 workers (see factsheet ID12934). The reason for the downsizing of emplyment was a decrease in orders. Since then the situation has further aggravated and parent company, Austrian Styria Group, decided to close down Styria Vzmeti and to relocate production to Sibiu in Romania. This means that all the remaining 115 employees will lose jobs.
Eurofound (2009), Styria Vzmeti, Offshoring/Delocalisation in Slovenia, factsheet number 69459, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69459.