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.
Continental, the German company for automotive components, has announced the closure of its factory in Rubí (Barcelona) by 2021, causing 740 redundancies. According to the announcement, the company plans to relocate the production to other European countries, however, there are no further details given. The company produces automotive components and, at the plant in Rubí, components for the front dashboard of vehicles are manufactured. These parts are the ones that will be mainly affected by the electrification and digitalisation of the new generation of vehicles. Continental wants to cut production (and workforce) before production falls following the spread of the electric vehicles, according to a union secretary general.
Continental and unions have negotiated a pre-agreement for the implementation of a pre-retirement plan for those employees over 55 years old (with monetary supplements) and compensations for the rest of the workers of 62 days per year worked (maximum of 44 monthly payments), in addition to a payment of €500 per year worked plus €1,000 bonus for the entire workforce.
CCOO union expected that with this pre-agreement, the company would promote a re-industrialisation plan for the factory to rehire around 70% of affected workers. However, Continental has now rejected that possibility because there are no buyers interested in the factory.
Continental operates in Spain, Italy, Germany and the U.S.
Eurofound (2020), Continental, Offshoring/Delocalisation in Spain, factsheet number 101252, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101252.