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.
Real Estate Real Estate Activities Real Estate Activities 68 - Real estate activities
240 jobs Number of planned job losses
Announcement Date
1 December 2008
Employment effect (start)
5 January 2009
Foreseen end date
5 February 2008
Description
The Pedralbes real estate company has asked to be declared insolvent due to a lack of liquidity and the fact that it is unable to secure credit to continue with its activities. Pedralbes has 273 workers, of which it plans to dismiss 240 by means of a Layoff Plan. Pedralbes and another four companies of the group (Comfour, Copesa, Alfaisa and Cogesa Gracia) have accumulated a debt of 154.6 million euros, of which more than 90 million are from a bank credit granted by a group of savings banks which the developer has unsuccessfully tried to renegotiate. The company has also run up non-payments to its suppliers to a value of over 15 million euros.
Sources
1 December 2008: El País
Citation
Eurofound (2008), Inmobiliaria Pedralbes, Bankruptcy in Spain, factsheet number 67654, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67654.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
