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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.30 - Manufacture of communication equipment
320 jobs Number of planned job losses
Announcement Date
7 April 2016
Employment effect (start)
Foreseen end date
Description
Finnish mobile multinational manufacturer, Nokia, has announced to worker representatives in Spain its intention to dismiss 320 workers (around 20% of its entire workforce). The decision has been taken after the company decision to merge with Alcatel-Lucent to compete against Huawei and Ericsson. Trade unions have published a note criticising the measure due to the optimal financial situation of the company. Moreover, they stress its negative consequences, bearing in mind the high unemployment rate recorded in Spain. Negotiations with the trade unions are already in course and will last one month.
Sources
7 April 2016: Cinco Días
Citation
Eurofound (2016), Nokia, Merger/Acquisition in Spain, factsheet number 87117, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87117.
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