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.
Bayer, the German multinational manufacturer of pharmaceutical products, has reached an agreement with workers' representatives to carry out an Employment Redundancy Plan (ERE) that will affect 112 workers.
The company and the unions needed nine meetings to reach a final agreement. The outcomes include the redundancy of 112 employees instead of 135, which Bayer had initially planned. In addition, the departures of affected staff members are now to be voluntary in nature, and better conditions for the people affected have been negotiated. The agreement also includes a measure which allows some of the workers affected by the ERE to exchange their departure with volunteers.
According to the trade unions, the agreed economic conditions are well above the legal requirements. In any case, unions regret the latest trend of the company, which is trying to compensate for its economic results through constant restructuring, especially through four EREs in recent years, the latest one in 2021 affecting 80 workers. Meanwhile, the company justifies the layoffs with the market situation in Spain, marked by difficulties in accessing new drugs and the maturity of some of the company's key brands.
Eurofound (2023), Bayer España, Internal restructuring in Spain, factsheet number 200444, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200444.