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.
Siemens Gamesa, the Spanish multinational company of new technologies dedicated to wind energy, announced the dismissal of 600 workers worldwide, 109 in Spain. This announcement comes after the company's shares fell 8.68% due to the results of its 2019 fiscal year (despite doubling its profits). Siemens Gamesa points out that price pressure is affecting the margins of the wind industry and consequently the profitability of manufacturers.
At this time, the company and the workers' representatives are negotiating to reach an agreement on the adjustment plan. Unions want to prioritise early retirement plans as an implemented measure.
Siemens Gamesa workforce already faced a collective layoff plan in 2018, affecting 226 workers.
Eurofound (2019), Siemens Gamesa, Internal restructuring in Spain, factsheet number 99341, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99341.