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.
Car manufacturer, PSA Peugeot Citroen, has announced plans for 110 dismissals at its plant located in Vigo (Spain). In addition, it plans 350 temporary dismissals. At this time, the bargaining commission has been set up and the company and the trade unions are discussing the measure. The company foresees an agreement will be reached on 6 July.
Update, 9-07-2015: PSA Peugeot Citroen plant in Vigo (Spain) and all trade unions except CUT, have agreed the labour adjustment plan, which will be implemented through voluntary leaves, as well as the temporary dismissals proposed by the company. The 110 dismissed workers will receive a severance pay of between three and a half annuities for those under 58 years old, and 0.66 annuities for those aged 63.
Eurofound (2015), PSA Peugeot Citroen, Internal restructuring in Spain, factsheet number 83848, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83848.