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.
Sacyr Fluor, a joint venture established in 2015 by the Spanish company Sacyr and the US multinational Fluor, specialising in the provision of engineering and construction services, has announced a collective lay-off plan that will affect 186 employees (almost half of the workforce) among its five centres in Spain. The main cause of the restructuring is the low economic forecast for the company together with the effects of the Covid-19 crisis.
Company and workers representatives are now starting a month-long negotiation process about the terms of the lay-off.
Eurofound (2020), Sacyr Fluor, Internal restructuring in Spain, factsheet number 101251, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101251.