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.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Programming And Broadcasting Activities 60.20 - Television programming and broadcasting activities
120 jobs Number of planned job losses
Announcement Date
14 January 2021
Employment effect (start)
Foreseen end date
Description
Atresmedia, the Spanish communications group that operates in various sectors (especially audiovisual), has completed the first phase of its project to rejuvenate its workforce: 120 workers have joined the voluntary redundancy plan aimed at workers aged between 57 and 65. According to the conditions agreed with the unions, the company will assume the payment of social security contributions of the affected workers and the remuneration of 70% of gross salary until legal retirement age. In the case of management personnel, the company offered 50% of the variable salary and no limitations on remaining linked to the sector (except for those cases of non-competition clauses).
The company considers that this plan will facilitate the rotation and incorporation of new profiles highly requested in a transforming sector such as the audiovisual one. This early retirement process is not related to the economic situation derived from the COVID-19 pandemic, which caused a 19.8% drop in the group's turnover in the first nine months of the 2020. However, activity recovered in the last two months of the year thanks to growth in advertising investments.
Eurofound (2021), Atresmedia, Internal restructuring in Spain, factsheet number 103519, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/103519.
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