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.
Transportation / Storage Land, Water And Air Transportation Land Transport And Transport Via Pipelines 49.31 - Urban and suburban passenger land transport
150 - 190 jobs Number of planned job losses
Announcement Date
19 March 2012
Employment effect (start)
30 April 2012
Foreseen end date
31 December 2012
Description
As part of the strategic plan for transport, the government intends to go ahead with the merger of Porto bus and tram operator STCP (Sociedade de Transportes Colectivos do Porto) and Metro do Porto (underground services) by April 2012. This process will lead to the loss of 150 to 190 jobs at STCP during 2012.
According to an official source of STCP, the job cuts are implemented through mutual agreement, disability or natural wastage. At the end of 2011 the company had 1,318 employees, 11.8% less than in 2010.
Sources
19 March 2012: Económico
16 May 2014: Público
Citation
Eurofound (2012), STCP, Merger/Acquisition in Portugal, factsheet number 73411, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73411.
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