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 Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.4 - Manufacture of weapons and ammunition
900 jobs Number of planned job losses
Announcement Date
3 February 2012
Employment effect (start)
13 February 2012
Foreseen end date
1 March 2012
Description
Arsenal Kazanlak, one of the largest military weapon and ammunition factories in the Balkans, has announced redundancies of around 900 employees. According to media reports, of those made redundant 600 are workers on temporary contracts and another 94 have reached the retirement age. The implementation of the cuts will start in mid-February.
Arsenal (Арсенал АД)) is a Bulgarian joint-stock company based in Kazanlak, engaged primarily in the manufacture of firearms and military equipment. Arsenal employs 6,600 people.
Sources
3 February 2012: Bulgarian national radio (horizont)
3 February 2012: Capital
3 February 2012: Money
Citation
Eurofound (2012), Arsenal, Internal restructuring in Bulgaria, factsheet number 73049, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73049.
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