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.
Slovak mini steelworks Slovakia Steel Mills (SSM) in Strazske declared bankruptcy and is to make more than 300 out of 400 workers redundant. The rest of staff will remain for maintenance works. The company, which produces wire and concrete steel, stopped its production in December 2014. InFebruary 2015, the court decided on the bankruptcy. According to the trade union representative, Dusan Varga, most employees agreed to have their employment contract terminated with an entitlement to severance pay. There is a possibility that the company will be sold and continue its business with a new owner.
Eurofound (2015), Slovakia Steel Mills, Bankruptcy in Slovakia, factsheet number 79202, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79202.