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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35 - Electricity, gas, steam and air conditioning supply
750 jobs Number of planned job losses
Announcement Date
21 December 2015
Employment effect (start)
Foreseen end date
Description
Spanish oil firm, Repsol, will dismiss 750 workers in Spain between 2016 and 2018. The most affected company of the group will be Repsol SA with 370 to 395 workers, and Repsol Exploracion with 190 to 200 workers. Repsol has announced that it will only include within the dismissal plan workers who are already or are going to become 57 or 58 years old between 2016 and 2018. Currently, severance pay and additional economic conditions are being negotiated with the trade unions. However, the company has announced that it will guarantee 82% of net salary up to the age of retirement.
There is not information on the exact date when the employment adjustment plan will start.
Sources
21 December 2015: Cinco Días
Citation
Eurofound (2015), Repsol, Internal restructuring in Spain, factsheet number 86163, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86163.
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