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.
Compañía Española de Petróleos, specialized in the extraction of crude petroleum, is negotiating a collective dismissal resulting in a maximum of 250 job cuts.
Dismissals will be implemented on a voluntary basis, affecting the staff located in Madrid and the staff located at the three Spanish refineries located at Cadiz, Tenerife and Huelva.
The management justifies the measure with the need to adapt to the company’s organisational challenges.
Compañía Española de Petróleos is a parent firm of the Spanish Cepsa group.
Eurofound (2014), Compania Espanola de Petroleos, Internal restructuring in Spain, factsheet number 76769, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76769.