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 regional government of the Autonomous Community of Valencia has announced its intention of applying for a labour adjustment plan (ERE) for the public television and broadcasting channel RTVV, affecting about 1,200 employees. This represents two thirds of its workforce of 1,800. The timeline for the restructuring is not yet known.
The measure is blamed on the financial crisis which strongly impacted the region of Valencia. RTVV has a debt of EUR 1,200 million and its audience share is lower than 5pc. The unions have opposed the measure.
UPDATE 17.07.2012:
RTVV will finally apply for an ERE affecting 1,295 employees (76pc of its entire workforce). This is the largest collective dismissal so far in a Valencian public company. In the following days, a negotiation process will be opened with the unions.
UPDATE 22.08.2012:
The governing board of RTVV finalized a labour adjustment plan for 1,198 employees. The plan includes the compensation of workers equal to 20 day wages per year worked.
Eurofound (2012), Radio Televisión Valenciana (RTVV), Internal restructuring in Spain, factsheet number 72990, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72990.