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.
Tubos Reunidos, an Spanish company specialised in the manufacture of seamless steel tubes, has presented an employment redundancy file (ERE) affecting 301 employees across its plants in Amurrio (Álava) and Valle de Trápaga (Bizkaia), representing over 20% of its 1,400-strong workforce. The measure includes 274 layoffs in Amurrio and 27 in Trápaga, alongside the temporary suspension of steel-making activity in Amurrio and the outsourcing of billet and ingot production.
The decision follows heavy financial losses of €71.3 million in 2025, largely attributed to the impact of 50% US tariffs on steel, as the American market accounted for nearly half of the company’s revenue in recent years. Tubos Reunidos also carries a debt burden of €234 million, despite having reduced it by €160 million since 2021.
The company has outlined a viability plan focused on diversifying markets, strengthening its position in Europe and the Middle East, and promoting low-emission steel products. Meanwhile, unions have called strikes in protest, arguing that the restructuring will have severe social and industrial consequences for the Basque steel sector, already affected by global overcapacity and rising imports.
Updated, 24 March 2026:
Tubos Reunidos has formally submitted an employment redundancy file (ERE) affecting 285 workers, fewer than the 301 initially announced. Of these, 205 employees will leave voluntarily under incentivised exit schemes: 152 from the Amurrio (Álava) plant and 53 from Trapagaran (Bizkaia). 80 temporary workers (70 in Amurrio and 10 in Trapagaran) will be dismissed by 31 March. The remaining departures will take place gradually between March 2026 and June 2027, depending on production needs. Voluntary exits are subject to controversial conditions, including not appealing the dismissals and the company’s successful debt refinancing. Compensation varies: early retirement schemes for employees aged 57–62 include 70% of gross salary until 63, plus Social Security contributions; voluntary redundancies offer 45 days’ pay per year worked (capped at 24 months) plus seniority bonuses; temporary staff will receive 33 days per year. Unions have vowed to challenge the ERE in court, maintaining strike action and denouncing the plan as destructive for employment. The company, burdened with €263 million in debt, argues the restructuring is essential for viability.
Eurofound (2026), Tubos Reunidos, Internal restructuring in Spain, factsheet number 204237, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204237.
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