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.
Magnific, a Spanish artificial-intelligence platform originally founded as Freepik, has announced an Employment Redundancy File (ERE) that will affect at least 30 % of its 350 employees in Spain, or approximately 105 employees. The job cuts target the company’s main office in Málaga, where the majority of staff are based.
The restructuring follows a strategic shift from a business model based on stock-image library to generative-image and video-creation services, a digital transition that drives new product development. Negotiations with workers are underway. The company’s ownership is split between the Swedish venture fund EQT (53 %) and the founders, who retain the minority stake.
Eurofound (2026), Magnific, Internal restructuring in Spain, factsheet number 300590, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300590.