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.
Italian commercial vehicle manufacturer Iveco is to apply for a labour force adjustment plan which will affect all the workers at the plant in Barcelona. The measure has been agreed with the employees' representatives.
Redundant workers will be paid 70 days per year of service with a maximum of 42 monthly payments. Early retirements will be an option for workers aged between 51 and 57 years as of 30 September 2011, and will receive between 72% and 90% of their net wages until they reach 62 years.
The agreement also envisages the outplacement of some of the affected workers to the Iveco plant in Valladolid. The relocated workers will retain their employment conditions contract and receive an allowance for the change of residence.
There is no official date for the closure; however there are rumors that the plant will close by the end of the year.
Eurofound (2011), Iveco, Closure in Spain, factsheet number 72546, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72546.