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.
Codorniu, a Spanish firm specialised in the production of beverages, will file an application for an employment adjustment affecting 72 workers (around 17% of the workforce of this enterprise). The measure supposes a reduction compared to the initial proposal submitted by the company, which aimed to dismiss 91 workers. However, the company reached an agreement with the employees’ representatives once they threatened the management with two days of strike. The final agreement was supported by the workers in a referendum. Most of the dismissals will affect the factory located in Sant Sadurní d’Anoia (Catalonia). 46 of the dismissed workers will be entitled to a supplementary pension scheme. The remaining dismissed workers will receive a severance payment equal to 35 days per year worked, up to a maximum of 26 months. The measure has been applied due to the company decision to stop producing Cava wine for private-labels. This decision means that production will decrease by 20%
Eurofound (2017), Codorniu, Internal restructuring in Spain, factsheet number 91169, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91169.