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.
Vulkan, a Slovakian producer of rubber products, has decided to change its product portfolio. According to Vulkan CEO Marián Urban, the company wants to cooperate more closely with the automotive industry and produce rubber compounds and rubber components for cars. Some employees already participate in training programmes in France to acquire the necessary skils for using new technology and equipment. Nonetheless, some jobs and occupations have become obsolete, which has lead to almost 30 redundancies in March 2006. According to the Vulkan CEO, another 190 employees will be dismissed in the next three month.
On 12 May 2006 the Vulkan CEO Marián Urban announced that the company decided to stop the planned dismissals and hires some specialist in chemistry and rubber technology, now.
Eurofound (2006), Vulkan, Internal restructuring in Slovakia, factsheet number 63268, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63268.