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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
140 jobs Number of planned job losses
Announcement Date
6 January 2003
Employment effect (start)
1 January 2004
Foreseen end date
31 December 2004
Description
The Saez Merino Company is specialised in the manufacture of cotton type clothing for other firms in the sector. On December 2003, the company started a restructuring process which included the opening of two new stores in Madrid and Barcelona and the dismissal of 140 workers. The job losses concern 80 long term contracts and 60 interim contracts.
Sources
19 December 2003: El País
Citation
Eurofound (2003), Saenz Merino, Internal restructuring in Spain, factsheet number 59589, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59589.
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