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.
Global manufacturer of solar energy products Isofoton is to apply for a redundancy procedure (ERE) affecting 365 jobs in its plant in Malaga.
As reported, the company presented initially another redundancy plan envisaging 70 fewer dismissals, but it was withdrawn after the intervention of the Regional Government of Andalusia pointing out some inaccuracies.
Negotiations with the unions are currently taking place.
Updated 14-05-2013:Isofoton has reduced the number of dismissals from 365 to 230. This reduction, however, is linked to the acceptance by the employees of a 25% decrease in working hours and pay for the entire workforce.
Updated 03-06-2013: As announced, the ERE refers to 354 jobs.
Eurofound (2013), Isofotón, Internal restructuring in Spain, factsheet number 75309, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75309.