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.
TE Connectivity, the Swiss multinational specialised in the manufacture of cables and sensors for the industrial sector, has announced the closure of its factory in Montcada i Reixac (Barcelona) that manufactures components for the automotive industry. This closure will affect 248 employees, keeping about 60 employees for the commercial and after-sales service departments.
The company announced that the restructuring is due to 'a drastic change in the automotive industry, also caused by the change in customer behavior' driven by 'more work from home, better digital capacity and an economic recession in almost all European countries'. Dismissals will be carried out in phases, the process will end in March 2022.
According to the company, this measure will allow a more efficient organisation from the operational point of view to better align the comprehensive supply chain, costs and the manufacturing footprint with the needs of the market. However, according to the CCOO union, there are no objective causes for the collective dismissal plan and that the company takes advantage of the current situation to close plants and relocate production. During the current negotiation process, the Works Council of the factory has called strike days to protest against the closure.
This announcement comes after TE Connectivity dismissed 94 people in 2019, as part of its plan to relocate part of the activity in Montcada i Reixac to other facilities of the multinational.
Eurofound (2020), TE Connectivity, Closure in Spain, factsheet number 102566, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102566.
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