Restructuring events
European Restructuring Monitor (ERM)
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.
Torraspapel has reported a layoff plan for 400 people which will involve the closure of factories in Algeciras (Cádiz) and Amorebieta (Vizcaya). The adjustment includes around a hundred jobs in another two centres which the company has in Gerona (Sarriá de Ter and Sant Joan Les Fonts). The company has a total payroll of 3,000 workers spread around eight factories. The company confirmed the restructuring in a press release justifying it on the basis of a fall in demand and orders.The paper company says that the structural crisis of the paper sector in the world and the current economic situation "have obliged the company to take this decision" which was reported days ago to the workers’ representatives.
Eurofound (2008), Torraspapel, Internal restructuring in Spain, factsheet number 67657, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67657.