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 bakery products firm Panrico has announced a restructuring process leading to 318 redundancies in Spain. The restructuring includes a plant closure in Sevilla (Andalusia), where 197 employees will be made redundant and restructuring at the plants Paracuellos del Jarama (Madrid), Santa Perpètua de Mogoda (Barcelona), Puente Genil (Córdoba) and Zaragoza, where 121 employees will be affected.
The plant closure in Sevilla will see almost 100% of the workforce go, while some employees will be relocated to Panrico's plant in Cordoba (Andalusia). It is also known that workers of Santa Perpétua will be subjected to early retirement.
Redundancy Procedures have been agreed with the unions at all plants. The redundancy measures are blamed on the current economic crisis.
Eurofound (2012), Panrico, Internal restructuring in Spain, factsheet number 73557, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73557.