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.
Manufacturer of cement, Cementos Portland, has applied for a Redundancy Procedure affecting 250 employees. Negotiations with the unions have been opened on the 25th of September.
According to the initial agreement, which must still be confirmed, 160 employees over 58 years old will be offered early retirement. They will be offered compensation of 30 days per year worked for those who have been working for the company for over 28 years and 28 days per year worked for the rest. 60 employees will be relocated and the contracts of 30 employees will be terminated. They will be offered compensation according to the time worked for Cementos Portland.
Eurofound (2012), Cementos Portland, Internal restructuring in Spain, factsheet number 74192, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74192.