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.
Jazztel, the telecommunications company, announced on 20 October 2006 that it will dismiss between 100 and 120 employees out of its 735 employees in Spain, a figure that represents 15% of its staff in the country.
This decision is due to the fact that the company has doubled its losses in the first six months of 2006, reaching 112.9 million euros.
Most of the employees that are going to be dismissed are comercial staff and are working in projects that are about to be finished or abandoned. The dismissals have been arranged with the employees and communicated to the works council.
Eurofound (2006), Jazztel, Internal restructuring in Spain, factsheet number 64452, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64452.