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.
Siderúrgica Balboa has presented an employment regulation file for 237 employees at its Jerez de los Caballeros (Badajoz) plant. The factory specialises in the production of corrugated steel, mainly for use in construction. In a press release, the company has said that "the employment regulation file is essential to ensure the company's survival". The centre at Jerez has 900 staff.
The company's works council and the Estremaduran labour authority have been informed of the employment regulation file. As part of its explanation of the reasons for the dismissals, the company stated that the market for corrugated steel has suffered a drop of 50% since the end of 2007 and continues to decline in 2010. In June 2009, the company requested a one-year suspended employment regulation file for 270 contracts.
Eurofound (2010), Siderúrgica Balboa, Internal restructuring in Spain, factsheet number 70584, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70584.