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.
Ford Romania, a subsidiary of the US multinational car producer Ford Motor Company, plans to dismiss 680 employees by the end of 2014 at its Craiova plant. This year the company initiated a programme of voluntary termination of individual employment contracts at both its engine production and car division units. The company is also considering negotiations with trade unions for dismissals based on economic reasons, unless the target is reached by 18 December 2014. According to media sources, almost 400 jobs were cut in 2012 and 2013 due to low market demand.
Update, 06-03-2015: Ford Romania reconsidered the dismissal of 680 employees in Craiova announced at the end of 2014, and settled for 490 voluntary terminations of employment contract. To avoid the remaining 180 dismissals, the management accepted to reduce the working time every Friday, without altering the wages. The employees who volunteered to leave the company received severance payments of 16 to 24 monthly wages.
Eurofound (2014), FORD ROMANIA, Internal restructuring in Romania, factsheet number 78256, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78256.