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.
Pepco, the Polish low-cost retail group, has reached an agreement with trade unions in Spain to implement an employment redundancy plan (ERE) resulting in the dismissal of 209 employees and the closure of ten stores. Initially, the company proposed shutting down 13 stores and affecting 232 jobs, but union negotiations led by CCOO successfully reduced the impact, saving three stores and 23 jobs.
The final agreement provides affected workers with compensation of 32 days’ salary per year worked, capped at 20 months (above the statutory minimum of 20 days per year with a 12-month cap).
Pepco currently operates around 225 stores across the country and offers a broad range of products from clothing and household goods to personal care. Despite the job cuts, the group reported a 3.4% increase in global revenue for 2024, reaching €1,934 million
Eurofound (2025), Pepco, Closure in Spain, factsheet number 203115, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203115.
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