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.
Manufacturer of window and door fittings, Maco, set out plans to cut 170 jobs at its production sites in Austria. Maco currently employs 1,670 people in Austria and recently announced the implementation of a restructuring programme to improve its efficiency and competitiveness in the face of reduced demand from established markets in Russia, Ukraine, Italy and France and increased competition from third country producers.
A social plan will be set up with trade unions for all of the affected employees in Austria.
Update 07-05-2015:Maco announced a further downsizing of its workforce, making a total number of 100 temporary workers at the productions sites in Salzburg, Mauterndorf and Trieben redundant. Additionally, the company announced plans to evaluate the current structure of salaries and working time arrangements. There is also a discussion on reducing unused vacations and working overtime hours. The managing director argued that these steps are necessary to secure the remaining jobs in Austria.
Eurofound (2015), Maco, Internal restructuring in Austria, factsheet number 79403, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79403.