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.
The chemical industrial group Sniace is to cut 515 jobs in its plant located in Torrelavega (Cantabria).
As reported, no agreement has been achieved after one month of negations with the unions; therefore the company announced the dismissal of 515 employees out of total 533.
The remaining workers will be dismissed in September 2014.
As announced by the company, the restructuring is due to the recent billing changes in the area of energy enacted by the government which imply a drop of 10 million Euros in profits.
For previous restructuring see Sniace - ES2009 and Sniace - ES2006.
Eurofound (2013), Sniace, Closure in Spain, factsheet number 75931, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75931.