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.
Levi Strauss, the multinational specialised in the manufacture of textiles, has decided to close the two production plants it has in Spain: Bonmati (Girona) and Olvega (Soria). The decision was announced on 3 June 2004 to the labour representatives. The plant in Girona employs 285 workers and the one in Soria employs 170 workers. The reason for the closure of both production plants was the high production costs of the Spanish production centres in comparison to other areas such as Africa or Asia.
The management and labour representatives have reached a final agreement for the dismissals of 453 of its workforce. The workforce from ages of 55 years or over will be subject to incentivised dismissals. The agreement includes as well the pay of 60 days per year of service with a maximum of 100,000 euros and a bonus of 6,000 to the workforce with less years of service.
Eurofound (2004), Levi Strauss, Relocation in Spain, factsheet number 60371, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60371.