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.
Hulleras del Norte (Hunosa), the public coal mining company in Asturias (north of Spain), has announced this summer that it will offer early retirement to 1,276 out of its 3,318 employees between 2007 and 2012. The employees to be offered early retirement will have to be above 52 years old and be workers for more than eight years in the mining sector. The reason for this restructuring is that the company has never earned profits since it was created in 1967 (it lost 53.6 million EUR last year). By early retirement of 717 employees, the company has already reduced its staff in the period between 2002 and 2005, but this has not been enough to compensate for the huge losses.
Eurofound (2006), Hulleras del Norte (Hunosa), Internal restructuring in Spain, factsheet number 63962, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63962.