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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65.1 - Insurance
250 jobs Number of planned job losses
Announcement Date
26 July 2021
Employment effect (start)
Foreseen end date
Description
Spanish insurance services company Mapfre, present in 49 countries, announced a voluntary early retirement plan in Spain that will affect around 250 employees of a certain age and in jobs that will disappear due to the company's digital transformation process. The final number of affected workers will depend on the number of voluntary applications. The company is an important player in the Spanish and global insurance sector and is the tenth largest company in the sector in Europe and the third in Latin America.
The company created 150 jobs previously in July 2019.
Update 28/09/2021: Mapfre has started the implementation of a voluntary redundancy plan for its workforce, which will affect 250 people, although the final figure will depend on the number of requests and whether the agreed age and seniority requirements are met. According to the unions, the final agreement establishes that the plan will only affect workers between 57 and 63 years of age, and those affected will receive 70% of their annual salary (gross and variable remuneration).
Eurofound (2021), Mapfre, Internal restructuring in Spain, factsheet number 105272, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105272.
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