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.
Spanish international pharmaceutical company Esteve has presented a collective dismissal plan, which affects 103 out of the 1,290 employees of the company in Spain. The figure represents 7 per cent of its workforce. The employees to be made redundant work in the administrative, commercial and R & D areas.
The causes argued by the company are the limited growth of the Spanish pharmaceutical market and the high investment costs required to continue the development of some of its products. Representatives of the trade union in the company rejected the plan and stated that the situation of the company does not justify the dismissals. It is the second collective layoff plan in the history of the company; the first one in 2013 lead to the dismissal of 225 employees.
Eurofound (2018), Esteve, Internal restructuring in Spain, factsheet number 96282, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96282.