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 Kybse factory in Ororbia (Navarra), dedicated to the manufacture of shock absorbers and owned by the Tokyo-based automotive components multinational Kayaba, has announced a collective redundancy plan that will affect 103 workers in the factory: 55 production line workers and another 48 to quality, engineering, and maintenance departments.
The company justifies its decision by the drop in sales and economic problems after a turnover fall close to 60% in the last year due to the COVID-19 pandemic crisis. The company has assured its aim to implement the restructuring with early retirement and voluntary redundancies.
Unions are surprised because they expected the adjustment would have affected only the office area. However, want to transmit a message of 'relative tranquillity' to avoid involuntary exits. For its part, the CCOO rejects the plan and criticises the company's management for not fulfilling its employment maintenance commitment.
Eurofound (2021), Kybse, Internal restructuring in Spain, factsheet number 103515, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103515.