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.
The Spanish engineering group Abantia will implement a labour force adjustment plan affecting 318 workers (around 20% of its entire workforce). The company is currently in the process of insolvency. 171 of the redundancies will occur in Industrial Abantia, 66 in Abantia Installations, 33 in CSC, 33 in Abantia Maintenance and 15 in Abantia Security. The remaining workers will be able to stay with the company if the sale of the surviving units can be agreed. The Basque company Dominion has presented an offer to buy Abantia. The Court will communicate to the workers if the company administrator of Abantia will accept the offer in the next day.
Eurofound (2016), Abantia, Internal restructuring in Spain, factsheet number 86809, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86809.