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 cement manufacturer Cementos Portland will apply for a redundancy procedure affecting 460 employees. 260 job cuts will occur in the manufacturing division and anoher 166 cuts in the administrative unit.
Workers between 58 and 62 years will receive a dismissal compensation equal to 30 days pay per year worked up to a maximum of 22 months. Workers between 55 and 57 will receive compensation equal to 32 days pay per year worked up to a maximum of 22 months. Workers younger than 55 years receive compensation equal to 33 days pay per year worked up to a maximum of 24 months.
In 2012 the company presented another labor force adjustment plan (see Cementos Portland 2012). The measure is part of a strategic plan aiming to reduce the company debt.
Eurofound (2013), Cementos Porland, Internal restructuring in Spain, factsheet number 75699, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75699.