Internal restructuring
Location of affected unit(s)
Electricity, Gas, Steam And Air Conditioning Supply
Electricity, Gas, Steam And Air Conditioning Supply
35 - Electricity, gas, steam and air conditioning supply

800 jobs
Number of planned job losses
Job loss
Announcement Date
23 March 2021
Employment effect (start)
13 April 2021
Foreseen end date
31 December 2021


Naturgy, the Spanish multinational electricity and gas company, has announced a voluntary redundancy plan that will affect at least 1,000 of its 5,318 employees in Spain. Any employee of any age can be affected by this measure. The company explains that the plan is intended to reorganise the workforce in order to adapt to the new conditions of the energy market – for example, decarbonisation, energy transition, greater competition, as well as efficiency and the digitalisation of processes.

The management has informed the unions that it will give two months to the workers in Spain to take advantage of this redundancy plan. The unions and the management are currently negotiating the conditions of these voluntary redundancies. According to the unions, the company wants to reach the agreement in a maximum of three weeks. The company's first offer involves a percentage of five years' salary depending on seniority. Thus, those older than 55 years would receive between 80-85% of five years' salary.

This restructuring plan takes place during the processing of the takeover bid over 22% of Naturgy shares by the Australian fund IFM, pending approval of the Spanish Government.

Updated, 23/07/2021:

Naturgy has closed its voluntary redundancy plan in Spain with the dismissal of 800 employees (15% of the workforce). 600 of them have already left the company, while the rest will leave by the end of 2021. According to the company, the implementation of the plan was carried out respecting the basic premise of bilateral voluntariness, of workers and company, both in the request and in the acceptance.



Eurofound (2021), Naturgy Energy Group , Internal restructuring in Spain, factsheet number 104660, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/104660.