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 Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer programming, consultancy and related activities
400 - 800 jobs Number of planned job losses
Announcement Date
28 May 2005
Employment effect (start)
30 June 2005
Foreseen end date
Description
In accordance with its worldwide restructuring plan launched in May 2005, IBM in Spain plans to create between 400 and 800 redundancies out of 4,100 employees in Spain. The first 400 redundancies will be created before the 30th June 2005 and other 400 redundancies are planned by the end of 2005. The company in Spain had registered losses of €1,9 million by 2004 due to the decrease in sales of its subsidiary IBM Global Investors by 99,9 % with a negative contribution to the group of €36,79 million.
Sources
28 May 2005: Expansión
Citation
Eurofound (2005), IBM, Internal restructuring in Spain, factsheet number 61691, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61691.
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