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.
Isolux Corsán will apply for a redundancy procedure affecting 238 employees in its construction section (around 23% of its entire workforce). The redundant workers will receive dismissal compensation equal to 29 days per year worked. In addition, they will be able to take part in an outplacement plan that provides them with support for their reintegration into the labour market.
Temporary dismissals of 12 months will be also applied for 60 employees. The measures have been agreed with the unions.
This is the second labour adjustment plan presented by the company. In October 2012 the company dismissed 123 employees. The restructuring is attributed to the economic crisis and its impact on the construction sector.
Eurofound (2013), Isolux Corsán, Internal restructuring in Spain, factsheet number 75593, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75593.