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.
The textile company Gramax Internacional announced it will cut 150 jobs at its plant in Loures, which comprises 30% of the existing workforce. Main job reductions will fall in the unit that produces underwear and swimwear. Gramax' management stated that current orders are insufficient to keep the plant operational at a cost efficient level as there is not enough work for all employees. The Portuguese division reported a turnover in 2016 of €20 million. In 2016, Gramax employed 500 workers.
Eurofound (2017), Gramax, Internal restructuring in Portugal, factsheet number 93007, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93007.