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.
The Phone House, the retail company chain of multi-brand telephones, has announced a collective dismissal plan for the workers of 148 of its 500 centers (29.6%): 147 shops across all Spanish territory and one logistic center in Madrid. The plan can affect between 500 and 600 employees.
This announcement comes two days after the end of the temporary layoff plan implemented due to the COVID-19 pandemic. The company estimates that the measures taken during the first months of the pandemic have not been enough to cushion the economic and productive situation of the company, which was not positive before the impact of OVID-19.
Company and workers' representatives are currently negotiating the terms of the restructuring plan.
Update 18/12/2020:The Phone House and the workers' representatives have reached a preliminary agreement for the collective dismissal plan ewhich will affect 435 employees, a number lower than the initial range proposed by the company (500-600). The pre-agreement establishes that the affected workers will receive compensation equivalent to 30 days per year of service, with a ceiling of 17 monthly payments and a maximum amount of €48,000.
Eurofound (2020), The Phone House, Internal restructuring in Spain, factsheet number 102103, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102103.