Type
Internal restructuring
Country
Spain
Region
Comunidad de Madrid;
Location of affected unit(s)
Madrid
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Construction Of Buildings
41 - Construction of buildings

532 jobs
Number of planned job losses
Job loss
Announcement Date
15 July 2008
Employment effect (start)
15 September 2008
Foreseen end date
15 December 2008

Description

The Spanish construction company Martinsa Fadesa has presented a second redundancy procedure (expediente de regulación de empleoor ERE) to dismiss 234 workers. In 2008, the company presented a first redundancy procedure to lay off 298 workers (60,8 % of its workforce).The decision is due to the sharp decline in housing sales in the unfavourable economic climate.


Sources

Citation

Eurofound (2008), Martinsa Fadesa, Internal restructuring in Spain, factsheet number 66920, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66920.