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.
The Valeo Company is specialised in the manufacture of components for motor vehicles. The Company has a plant in Ourense (Galicien, Spain) and has decided the closure of this centre. The job reduction plan needs to be agreed by the labour representatives and the regional authorities. The measures put forward by the management include early retirement for employees aged over 55, external relocations and indemnities. The labour representatives seem to turn down any proposal that includes the closure of the centre.
Eurofound (2004), Valeo, Closure in Spain, factsheet number 60920, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60920.