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.
Printer has lost 4.5 million euros in the last three years. Instead of the closure of the factory, Printer proposed a salary reduction of around 18%, the direct dismissal of 46 employees which still remained pending from last year's Job Reduction Plan accepted by the regional authorities, and the hiring of new labour with 45 % less income. This measures would help the company to save up to 6,2 million euros and therefore continue activity. The unions did not accept but the offer is still pending until 23 March 2004. Finally, Bertelsmann AG announced the closure its subsidiary Printer plant after not reaching an agreement with Labour representatives. The Regional Catalonian Councelor for Industry and Labour, Josep María Rañé, said the company's announcement did not necessarily mean the closure would happen and that the Job Reduction Plan should be duly justified.
Eurofound (2004), Printer, Closure in Spain, factsheet number 59365, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59365.