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 Galician company Noa Madera Creativa located in Vilar do Colo, Fene, has announced a collective dismissal plan affecting 100 employees or 40 percent of its total workforce. The company imputed the redundancies to economic reasons and mainly to the reduction of orders from its main client Inditex.
Trade union representatives have expressed fears that this layoff plan will lead to worse working conditions, similar to those in Grupo Malasa (the owner group), with lower salaries and a higher share of temporary contracts. Employees of Noa Madera Creativa have already organised demonstrations to protect their jobs. Fene City Council has also shown its institutional support to the workers.
Eurofound (2018), Noa Madera Creativa, Internal restructuring in Spain, factsheet number 96248, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96248.