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 enterprise Muebles Salcedo, specialized in the manufacture of furniture, has applied for the Redundancy Procedure affecting its entire workforce (132 employees). The Redundancy Procedure has been enacted by the labour authority.
Accordingly, 81 workers have already been dismissed, while 51 will remain working until the completion of pending demands. The employee's representatives stated their regret about the closure of the factory, arguing that the enterprise could survive by adapting products and keeping existing employees.
The redundancy procedure is reported to be terminated within the next weeks.
Eurofound (2011), Muebles Salcedo, Bankruptcy in Spain, factsheet number 72848, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72848.