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.
Daimler-Mercedes Benz, the manufacturer of motor vehicles, has announced that it is to close its factory in Barcelona with the loss of 424 jobs. The site will be closed by the end of November 2007, and the firm attribute the closure to financial reasons. Early retirement will be offered to those employees aged 55 or over, and all employees will receive the minimum level of legal financial compensation (20 days pay for each year worked). The firm has also developed a social programme that envisages the relocation of 210 of the affected employees into a joint enterprise that the firm is to develop in Esparraguera along with the firm Estampaciones Sabadell.
Eurofound (2007), Daimler-Mercedes Benz, Closure in Spain, factsheet number 65968, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65968.