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.
Several locations in Spain, including Almeria and Seville (Andalusia), Coruna (Galicia), Alicante (Valencian Community), Bilbao (Basque Country) Lleida, Girona and Tarragona (Catalonia)
Sector
Professional Services Professional Legal And Technical Acconuting Activities Legal And Accounting Activities 69.1 - Legal Activities
158 jobs Number of planned job losses
Announcement Date
8 November 2024
Employment effect (start)
8 November 2024
Foreseen end date
8 November 2024
Description
Spanish law firm Arriaga Asociados has already implemented an employment redundancy file (ERE) affecting 158 people being dismissed after the closure of its offices in Almeria, Coruna, Alicante, Seville, Bilbao, Lleida, Girona and Tarragona, representing approximately 40% of the total workforce. Notwithstanding this, the company maintains operational headquarters in Valencia, Barcelona and Madrid, and continues to provide telephone services across Spain. The company has also launched a branch dedicated to the provision of legal services based on Artificial Intelligence (AI).
According to company sources, this situation is due to the high debt level of the company (approximately 32 million Euro), which has obliged to present a restructuring plan to defer payments to defer payments to creditors. This high level of debt is due to two main reasons. Firstly, a reduction in the workload of the staff (explained by the business model of the company, which specialises in filing claims against revolving credit cards, or mortgage expenses), and secondly, delays in judicial rulings that affect the collection of their fees
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
