Type
Bankruptcy
Country
Spain
Region
Location of affected unit(s)
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Civil Engineering
42 - Civil engineering

188 jobs
Number of planned job losses
Job loss
Announcement Date
2 November 2010
Employment effect (start)
2 November 2010
Foreseen end date
31 December 2010

Description

On Novemeber 2nd 2010 the Spanish Construction firm, Ploder Uicesa, announced that it will be laying off 188 workers (74% of workforce) and filing for bankruptcy.  The workers will be officially laid off by the end of the year and are entitled to 36 days of compensation per year worked with a cap at 16 payments.  The company is 315 million euros in debt.


Sources

Citation

Eurofound (2010), Ploder Uicesa, Bankruptcy in Spain, factsheet number 71611, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71611.