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.
Torrent, Ayora and Carcaixent (Valencia) and Casas Ibañez(Castilla La Mancha)
Sector
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
New offshoring locations
Morocco
548 jobs Number of planned job losses
Announcement Date
7 July 2004
Employment effect (start)
30 September 2004
Foreseen end date
31 December 2004
Description
On July 2004 Saez Merino announced its profits had dropped by 72.5% from 2002 to 2003 and foresaw losses in 2004. The management has therefore decided to close four of its plants in Spain, three in the province of Valencia, in the localities of Torrent, Ayora and Carcaixent, affecting 411 labour, and the fourth in Casas Ibañez affecting 137 labour in the province of Albacete. Around 75% of the affected labour are women. The company has decided to subcontract 50% of its production in Morocco. Other reasons put forward by the management to take the decision are the crisis of the textile sector and its liberalisation by 2005. The labour representatives of the company have announced measures in order to avoid the relocation process.
Sources
7 July 2004: El País
7 July 2004: La Gaceta de los Negocios
Citation
Eurofound (2004), Saez Merino, Offshoring/Delocalisation in Spain, factsheet number 60669, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60669.
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