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 Basic Metals 24.42 - Aluminium production
European Globalisation Fund (EGF)
Year: 2011, Case number: 21
530 jobs Number of planned job losses
Announcement Date
13 December 2011
Employment effect (start)
Foreseen end date
Description
On 13 December 2011, aluminum producer Zalco filed for bankruptcy leading to 610 job losses. Since then, it had remained unclear what would happen to the employees.
On February 2nd the receiver company declared that the chances of a takeover were small and that the employees were going to be dismissed. There is some chance that two departments of the firm can continue. The bankruptcy is due to high energy prices (Zalco was the second biggest consumer of electricity in the Netherlands) and low revenues.
Employees will be supported through funding from the Ministries of Economic affairs and Social Affairs and Employment in the province of Zeeland, amounting to € 800,000.
UPDATE 10.08.2012: It was announced that employees will be supported by a 1.5 million Euro fund. Moreover, in June parts of Zalco were taken over for a restart, resulting in the safeguarding of 80 jobs.
Sources
10 August 2012: Het Financieele Dagblad
3 February 2012: Het Financieele Dagblad
Citation
Eurofound (2011), Zalco, Bankruptcy in Netherlands, factsheet number 73122, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73122.
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.
