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 bank, Banco Popular, will implement an early retirement plan that will affect 150 employees. The measure will affect employees from the central services department and will be executed before the start of 2015.
As reported the plan envisages that affected employees will receive an early retirement salary of 80% to 90% until the age of 63 years old and then they will start to receive their pension. In addition, they will receive the sum related to the Special Agreement with Social Security which they must subscribe to in order to maintain their contributions until they get their retirement.
Eurofound (2014), Banco Popular, Internal restructuring in Spain, factsheet number 77928, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77928.