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 company Aernova, specialised in the design and manufacturing of aero structures and components such as wings, empennages and fuselage sections, has presented a labour force adjustment that imply a temporary dismissal that will last 41 days. In addition, the company has announced the intention of cutting 95 jobs by means of voluntary dismissals and relocations and a wage decrease equivalent to 7%. According to the working committee, the management is linking this labour force adjustment plan to the signature of a new company collective agreement that both parties are trying to conclude with the mediation of the Basque Country government. However, the working committee has not agreed a position with regard to the adjustment plan. Moreover, the company has not specified yet the destiny of the relocations.
Eurofound (2016), Aernova, Internal restructuring in Spain, factsheet number 87514, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87514.