Cofaco

Type
Closure
Country
Portugal
Region
Região Autónoma dos Açores; Região Autónoma dos Açores; Região Autónoma dos Açores
Location of affected unit(s)
Pico
Sector
Manufacturing
(10 - 11) Manufacture of food and beverage
10.2 - Processing and preserving of fish, crustaceans and molluscs
10.20 - Processing and preserving of fish, crustaceans and molluscs
167 - 180 jobs
Number of planned job losses
Job loss
Announcement Date
9 January 2018
Employment effect (start)
1 April 2018
Foreseen end date

Description

Portuguese fish canning company Cofaco, located on the island of Pico in the Azores, will make between 167 and 180 workers redundant. The company announced that all employees will be offered financial compensation and that all production will be halted until a new plant is built, which is expected to take between 18 to 24 months. When the new plant is completed, workers may be recruited again. The cannery's employees, comprising predominantly women, have unofficially already been out of work since mid December 2017. 

Sources

  • 9 January 2018: Público

Citation

Eurofound (2018), Cofaco, Closure in Portugal, factsheet number 92956, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92956.