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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.72 - Retail sale of footwear and leather goods in specialised stores
170 jobs Number of planned job losses
Announcement Date
18 June 2020
Employment effect (start)
15 July 2020
Foreseen end date
31 January 2021
Description
Marypaz, one of the largest footwear retail companies in Spain, has announced the closure of 41 of its 125 stores and a collective layoff plan affecting 170 people. The company has also introduced a temporary redundancy plan to reduce working hours of workforce during the limited sales period. This workforce adjustment plan is a consequence of the firm's decision to close 41 stores (having 125 currently) due to the Covid-19 crisis. The company's objective is to guarantee business continuity and to maintain as many employees and stores as possible.
The announcement comes after an insolvency rescue in November 2019.
Update 22/07/2020: After negotiations with the responsible unions, the company has agreed to reduce the number of affected workers to 131, which is with 57 positions less than the number of dismissals originally planned. The company will close 33 stores (25% of its establishments). The company will offer a compensation corresponding to 20 days per year worked (with the limit of legal compensation for wrongful dismissal), plus a single payment of €300 for all affected workers. The collective dismissal process will be implemented until January 2021.
Eurofound (2020), Marypaz, Internal restructuring in Spain, factsheet number 101073, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101073.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
