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.
Masorange, a Spanish telecommunications company, was formed after the merger of Orange and MasMovil. Subsequently, the company announced an internal restructuring plan, including 795 job cuts to streamline operations and remove duplicated positions.
This internal restructuring comes in the form of an Employment Redundancy File (ERE) for up to 795 employees, representing around 13.25% of its total workforce (around 6,000 workers). No direct dismissals are planned.
The company's downsizing decision is likely connected to the merger which occurred of two telecommunications companies which became Masorange the year before and it will affect not only workers but also senior and middle management positions. It is possible that during the negotiation of the ERE with trade union representatives, this figure will be reduced.
Masorange is a Spanish telecommunications company resulting from the merger of Orange and MásMóvil and it is the leader in the field in Spain by customer volume.
Updated (16th October 2024): Masorange has agreed to an employment redundancy plan (ERE) that will affect 650 workers. The final conditions proposed by the company to settle the negotiation of the ERE include a reduction of the workforce to 650 workers, compared to the 795 redundancies initially proposed. In its final proposal, Masorange has raised the compensation for those who voluntarily join the process to between 47 and 34 days per year worked with a maximum of 24 monthly payments. For workers who are forced to leave the company, the compensation will be between 45 and 33 days per year worked (maximum 24 monthly payments). On the other hand, workers with less than eight years in the company and who voluntarily present themselves to the ERE will receive a bonus of 3,000 euros, a figure that rises to 8,000 euros for those with between nine and 12 years' seniority and increases to 15,000 euros for those who have been with the company for more than 12 years. Likewise, the compensation ceiling will be 300,000 euros, compared to the 250,000 euros originally planned. In addition, the minimum age for access to the early retirement plan has been lowered from 57 to 56, with 80% of the salary. UGT and Fetico voted in favour of the company's latest proposal, against the opposition of CCOO.
Eurofound (2024), Masorange, Merger/Acquisition in Spain, factsheet number 201537, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201537.
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