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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
450 jobs Number of planned job losses
Announcement Date
31 October 2008
Employment effect (start)
Foreseen end date
Description
The timber company, Faus Group, situated in the town of Gandía (Valencia), has verbally communicated that it is looking to present a feasibility plan that will include a Dossier of Employment Regulation (ERE). This ERE envisages a reduction of almost 50% of the work force, which equates to 450 employees. The company belongs to the Timber-Finance Group (Finsa). Faus Group currently has three active lines of production: one dedicated to furniture units, another to laminated mouldings to accompany flooring and a third line of high quality flooring which was the world leader.
Sources
31 October 2008: Cinco Días
Citation
Eurofound (2008), Faus Group, Internal restructuring in Spain, factsheet number 68041, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68041.
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