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 American multinational car manufacturer Ford announced restructuring plan affecting up to 410 employees at its Spanish plant in Almussafes (Valencia). The company says the measure is due the decline of production linked to decreasing vehicle sales. Unions indicate their surprise at the announcement after several temporary adjustment plans during recent years and the business expansion of 2018. The negotiations between Ford and workers representatives was expected to start on March 10, but the sudden impact of the coronavirus crisis and the detection of three cases of Covid-19 within the staff has forced the closure of the plant and led to a delay in negotiations of at least one week. Facing a potential temporary collective layoff plan in addition to the planned loss of 410 jobs , unions have offered to bring forward easter holidays.
Update 18/05/2020:After negotiations with workers representatives, Ford has reduced the collective dismissal plan from 410 to 350 workers. These 60 not affected employees will work at the factory's future battery plant. The company had already committed to union representatives that 100% of the personnel of that future plant may be internal workforce. Moreover, the company has offered workers' representatives an early retirement plan together with another voluntary departure plan.
Eurofound (2020), Ford, Internal restructuring in Spain, factsheet number 100040, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100040.
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