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.
SEZ, a supplier of single-wafer wet-processing solutions, plans to lay off 60 of its around 550 employees at its plant in Villach. The redundancies will come into effect between 15 January and 13 February 2009. The company has been operating at a significant loss since 2007. Therefore, the planned dismissals would be inevitable, management argued. The latter has offered a social plan to the employees affected by the restructuring; however, this social plan has been criticised by the Chamber of Labour of Carinthia as by far not satisfying, in particular in terms of its funding by the company. SEZ is, since March 2008, a division of the US-based LAM Research Corporation.
Eurofound (2008), SEZ, Internal restructuring in Austria, factsheet number 68010, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68010.