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.
On 31 March 2011, household furniture manufacturer Novoles, announced plans to dismiss 260 workers mainly among the administrative staff. At the moment, the company employs 630 employees. The main reason for the internal restructuring is the decline in orders.
UPDATE - 27-05-2011: The situation for Novoles has worsened further in the last two months. As a result, the management has decided to file the bankruptcy at court. They expect that this will enable to retain the basic activity of the company and 120 jobs.
Eurofound (2011), Novoles, Bankruptcy in Slovenia, factsheet number 71816, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71816.