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 Cerealto Siro Group, an agri-food multinational dedicated to the development and production of cereal-based products, has agreed to close down its biscuit production plant in Venta de Baños (Palencia), affecting a workforce of 200 workers. This decision has already been formally communicated to the Works Committee and to the workers themselves. The decision has been taken because no investor has been found to take charge of the investments needed to make the biscuit plant competitive. The unions have announced that they will work in the coming months to relocate the workforce affected by the closure of other company plants, and to extend the working lives of people who are close to retirement age.
Update 05/08/2023 Cerealto (Siro) and the Workers' Committee at its biscuit factory have reached an agreement to keep the plant in Venta de Banos (Palencia) open. Work has been carried out to find solutions that would give continuity to the activity to avoid the closure of the plant. On 2 August 2023, the employees ratified the agreement between Cerealto and the workers' representatives that includes the implementation of measures to guarantee productive activity. It includes an investment plan, among others, that will take shape over the coming months and entail progressive improvements to the plant's facilities and machinery.
Eurofound (2023), SIRO, Closure in Spain, factsheet number 109149, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109149.
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