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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
200 - 220 jobs Number of planned job losses
Announcement Date
10 November 2016
Employment effect (start)
10 November 2016
Foreseen end date
Description
The Austrian construction company GLS with headquarters in Perg, Upper Austria, registered 280 employees with the public employment service due to insolvency.
GLS, specialised in the construction of roads, power lines, float protection but also demolition, has declared bankruptcy in early November affecting 220 employees at GLS and more than 60 workers at its subsidiary RW Montage. The company gave escalating costs for a bridge construction project as reason for the step, followed by disagreements on covering the costs with the contractor, ASFINAG.
In a staff meeting between 20 and 30 employees announced they already found a new job. Recent media reports indicate that only 40 people will be kept by GLS. Several local companies indicated interest in hiring staff from GLS and RW Montage. For the moment trade unions feel confident that most of affected employees will find new employment. So far, it is unknown if GLS can keep up operations, RW Montage will be closed.
Sources
10 November 2016: OÖ Nachrichten
17 November 2016: OÖ Nachrichten
17 November 2016: Der Standard
17 November 2016: orf online
Citation
Eurofound (2016), GLS, Bankruptcy in Austria, factsheet number 89123, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89123.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
