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 solar ingot and wafer production firm Silicio Solar - a subsidiary of Pillar Group - has informed the employee representatives that it intends to cut 371 jobs. As part of the plan, the company intends to adopt flexible working conditions at its factory in Puertollano. With this move, the insolvent company hopes to avoid going into administration.
The workers plan to stage some protests against the proposal on 20 January. Also, a temporary labour force adjustment plan affecting 771 workers started in November 2011 and is due to end in mid-February 2012.
UPDATE, 04/03/2012 - Following negotiations with the trade unions, the management of Silicio Solar has revised downwards the proposed job cuts from 371 to 295.
UPDATE, 02/04/2012 - According to recent press reports, employees at Silicio Solar have ratified the agreement reached between trade unions and the firm on the labour force agreement. The firm will cut 295 jobs - however the number of job cuts could increase of another 26 over the next six months due to investment in automation processes.
Eurofound (2012), Silicio Solar, Internal restructuring in Spain, factsheet number 73354, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73354.