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 industrial company SEGURA, dedicated to the design, development and manufacturing of metal components for the automobile, has communicated to the workers' representatives the proposal for a collective dismissal plan affecting 167 employees, all of them in the automotive division of the firm. The company argues that this workforce adjustment is due to forecasts for a decline in the automotive sector in the coming years (at least during 2020 and 2021) because of the effects of the COVID-19 crisis. In addition to the collective dismissal, the company plans to move its production activity from the Burjassot plant to Almussafes (Valencia), to be closer to its main client (Ford). The company plans to convert the Burjassot facilities into an R&D center when the company recovers economically. Company and unions are currently negotiating the terms of the restructuring.
Eurofound (2020), Segura, Relocation in Spain, factsheet number 101121, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101121.