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.
Spanish bank Novagalicia Banco intends to dismiss 750 employees with the closure of 150 branches outside of Leon, Galicia and Asturias. The bank has indicated that the job cuts will be implemented through forced dismissals.
A meeting between the management and the trade unions is scheduled for 14 February 2012 - the trade unions hope that alternative solutions to the redundancies can be found. In the meantime protests will be staged on 13 February.
Eurofound (2012), Novagalicia Banco, Internal restructuring in Spain, factsheet number 73340, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73340.