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.
In November 2006, RENFE, the Spanish passenger and freight transportation Railway Company, signed a 2006-2010 contract with the Spanish Central Public Administration which will be the only public investment in the company in fifteen years due to its progressive privatization. The aim of this contract is to revamp the organization and mainly its commuter train national infrastructure. According to the contract, from 2010 on RENFE will have to act as any other freight transportation company, signing contracts with every regional administration wishing to subsidize their commuter and regional trains. As far as long distance trains are concerned (Altea, Velocidad –long speed-, Mercancías –freight transportation- and Integria) they will have to be profitable as for 2010. This contract will involve the dismissal of 571 employees from 2007 to 2010 in order to incorporate young staff. These measures add to the Employment Regulation Programme ending in 2009 agreed with the trade unions at the end of which the staff would reach 14,317 employees.
Eurofound (2006), Renfe, Internal restructuring in Spain, factsheet number 65470, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65470.