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.
Telecommunications multinational company Telefonica has launched a new voluntary redundancies plan (without minimum age, unlike the previous plan). The company expects to reach 500 employees joining the plan. the plan would pay 50% of employees' salary over a ten years period for employees who have a minimum seniority of 10 years, and 60% of their salary over a five years period for workers with five to ten years of seniority in the company.
This announcement ia an additional measure following the voluntary redundancy plan that affected 2,636 employees in 2019.
Eurofound (2020), Telefónica, Internal restructuring in Spain, factsheet number 99720, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99720.