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 fishery group Freiremar is to apply for a redundancy procedure (ERE) affecting 403 employees. According to the sources, the job reduction measure refers to 83% of the total workforce in Spain and will take place at the sites in Alicante, Barcelona, Bilbao, Huesca, Madrid, Murcia, Sevilla, Valencia, Vigo and Zaragoza. Workers at the sites in Tenerife and Lanzarote are not to be affected.
The company is forced into restructuring measures due to ongoing economic turbulences, a total debt of 140m euros, and the recent refusal of banks to provide further liquidity.
Negotiations on the job cuts started on October 16th and included union representatives.
Freiremar group is based in Las Palmas and consists of 35 companies with 20 production sites over Spain.
Eurofound (2013), Freiremar, Internal restructuring in Spain, factsheet number 75989, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75989.