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.
The bathroom fittings producer Roca will lay off 180 people at its location in Alcalá de Henares (Madrid). The company, which has some 3000 employees throughout Spain, reports that it has adopted this decision to confront the growing deceleration that has swept through the construction sector since 2007, and that has worsened 'drastically' in 2008 and 2009.
Roca is presenting the layoff plan only months after making an agreement with the unions for a redundancy scheme to suspend contracts for one year for 1990 employees throughout Spain. However, the company has stated that this temporary scheme, approved in February, ‘was not enough' to respond to steep drops in demand, which makes ‘a new structural readjustment necessary in light of the future prospects of the construction market'.
Eurofound (2009), Roca, Internal restructuring in Spain, factsheet number 69604, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69604.