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.
Sink and home appliance firm Teka Industrial has announced the intention to present a workforce adjustment plan affecting 198 employees at its plant in Santander. The plant currently employs some 420 people.
The measure is attributed to the new strategy of the company, which includes plans to offshore parts of the manufacturing process. The management indicated that no other job cuts are planned in Spain. The restructuring is blamed on the crisis which has hit hard particularly the construction sector.
The unions rejected the measure as unacceptable.
Eurofound (2012), Teka Industrial, Internal restructuring in Spain, factsheet number 72992, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72992.