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.
Ljubljana based steel castings manufacturer Litostroj Jeklo, part of the Litostroj Group, is to cut 50-60 jobs by the end of 2013. The cuts will be done via the non-renewal of existing fixed-term employment contracts.
As announced, the cost- cutting restructuring is due to the reduced volume of orders and the financial difficulties that the company is facing.
According to the sources, in the recent years the company made investments financed by short-term loans that now is unable to pay back, especially since the banks do not approve a loan reprogramming.
Eurofound (2013), Litostroj Jeklo, Internal restructuring in Slovenia, factsheet number 76009, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76009.