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 conglomerate Elevo, which resulted from the merger of the engineering and construction companies Edifer, Monte Adriano, Hagen and Eusébios, has announced plans to make 400 workers redundant. The measure is part of the survival plan presented to the creditors Millennium BCP and Novo Banco in a call for financing; the company has asked for €20 million in order to pay salaries and arrears, strengthen its treasury and rationalise the framework of staff. The administration has recognised overdue salaries of nearly €4 million.
Eurofound (2019), Elevo, Internal restructuring in Portugal, factsheet number 96326, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96326.