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 For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
380 jobs Number of planned job losses
Announcement Date
21 June 2011
Employment effect (start)
Foreseen end date
31 December 2011
Description
ENVC SHIPYARD, a shipyard located in Viana do Castelo, announced the dismissal of 380 of their current work force of 720 till the end of 2011. The workforce reduction is included in a large restructuring plan.
The shipyard justifies the dismissal as being the only possible solution because of a lack of orders. The company closed their books in 2010 with a loss of €40 million and liabilities of over €400 million. The Works Council and the Board will start negotiations soon.
Sources
21 June 2011: Público
Citation
Eurofound (2011), Estaleiros Navais de Viana do Castelo, Internal restructuring in Portugal, factsheet number 72130, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72130.
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