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.
Textile company Fuentecapala will apply for a redundancy procedure affecting 99 employees in its factory in Navalmoral. As announced, the measure is part of a viability plan aiming to improve the competitiveness of the company by means of the modernization of the production chain. The unions oppose to the measure and asked to negotiate with the company the workforce adjustment plan. In detail they asked for at least 95 jobs to remain in the factory but their proposal was rejected.
UPDATE 22-11-2013:
The 99 dismissals that the company planned to implement were annulled by the labour court of Extremadura. Accordingly, dismissed workers had to come back to their previous jobs. In consequence, the company has presented a new plan aiming to dismiss 109 employees (80pc of its entire workforce).
Eurofound (2013), Fuentecapala, Internal restructuring in Spain, factsheet number 75647, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75647.