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.
ONO, a Spanish cable operator, is to cut 1080 jobs, following an announcement to cut 1300 jobs from a total of 4,300 workers. It was announced in October 2008 to cut 1300 jobs and this was revised in December to 1080. This respresents a 30% reduction in its workforce of 4,300 workers. The redundancies are due to the economic slowdown, and with this move, ONO aims to counteract the negative effects of the economic crisis and improve the quality of the customer service.
Eurofound (2008), ONO, Internal restructuring in Spain, factsheet number 67292, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67292.