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.
Spanish bank Banco Pastor is to cut some 130 jobs at its central services in A Coruna (100 jobs out of 633) and across its commercial network (25 to 30 jobs). The affected workers aged 57 years working in central services will be offered early retirement while this option will be given only to 60-year old workers working for the commercial network. The CIG and UGT union representatives opposed the management's decision to negotiate the early retirement packages individually rather than collectively.
UPDATE, 06/02/2012 - Banco Pastor intends to offer early retirement packages to another 215 employees in A Coruna and other branches in Galicia. Negotiations with the trade unitons are still ongoing.
Eurofound (2012), Banco Pastor, Internal restructuring in Spain, factsheet number 73353, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73353.