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.
The engineering and consultancy company Tragsatec, Tecnologías y Servicios Agrarios, will apply for a redundancy procedure (ERE) resulting in 803 job losses. This amounts to about 17% of its entire workforce.
Tragsatec is a subsidiary of the group Tragsa that is to implement measures with the consequent loss of 1,639 jobs in total. 836 of these cuts are to affect the parent company Tragsa.
The company has committed to include worker representatives in the decision making process to guarantee the continuous employment of the highest number of staff possible while solidifying the group’s future. The timeline for the restructuring plans is not yet available.
Tragsa group employed 9,848 staff as of December 2012. In 2011, Tragsatec had already announced a restructuring resulting the loss of 317 job positions.
UPDATE 3/12/2013: Tragsatec will finally dismiss 610 employees. Dismissed workers will leave the company by 31 December 2014. They will receive a compensation by dismissal equal to 20 days per year worked.
Eurofound (2013), Tragsatec, Tecnologías y Servicios Agrarios, Internal restructuring in Spain, factsheet number 76033, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76033.