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.
French car maker PSA Peugeot Citroen has indicated it will apply a voluntary redundancy plan at its manufacturing plant at Villaverde (Madrid). The company aims to dismiss 350 workers by means of incentive measures. The company hopes to implement the dismissals between 1 March 2015 and 31 December 2016. If the voluntary redundancy plan does not achieve the targeted 350 dismissals, the company will take other measures to cut the plant workforce by more than 15%.
The Villaverde plant produced 60,000 cars last year and is predicted to produce around 80,000 this year. The main models produced are the Citroen C4 Cactus and Peugeot 207cc.
Eurofound (2015), PSA Peugeot Citroën, Internal restructuring in Spain, factsheet number 78386, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78386.