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, Carcaixent (Valencia) and Daimiel (Castilla La Mancha)
Sector
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
429 jobs Number of planned job losses
Announcement Date
2 February 2006
Employment effect (start)
Foreseen end date
Description
The company Saez Merino produces and sells different types of textiles like jeans (the makes Lois, Cimarron, Caroche and Casterand). They have production centres in Spain and Northern Africa but also have stores. The Spanish centres are based in the regions of Valencia and Castilla La Mancha. On 30 September 2004 the company presented a job reduction plan concerning 548 redundancies. In February 2006 the company went into suspension of payments and announced 654 dismissals. In April 2006 the company has reduced the number of dismissals to 429. They will negotiate with the labour representatives about these dismissals. Since China entered the textile market, more than 245 companies have closed and 4,000 redundancies have been created in the region of Valencia.
Sources
2 February 2006: Expansión
7 April 2006: El País
2 April 2006: El País
27 April 2006: El País
Citation
Eurofound (2006), Saez Merino, Internal restructuring in Spain, factsheet number 62893, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62893.
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