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.
Public television and broadcasting station RTVV closed down, making 480 staff redundant. These 480 workers remained after the company had announced a restructuring plan (ERE) for 1,198 staff in August 2012.
The restructuring was needed after the company came under financial pressure in the wake of the economic crisis. The final closure of the station was announced in 5 November, after the courts had annulled the 1,198 dismissals made in 2012.
Following the closure, the staff went on to work against the management’s decision. A police operation finally forced the closure of the media station on 29 November. On 26 November, the company’s works council had presented a business plan according to which 41 to 43pc of jobs could be saved, keeping the media station running.
UPDATE, 21-01-2014:
The Valencian government has hired the consulting company KPMG in order to implement an ERE affecting 1,678 staff. The negotiating process between KPMG and the company’s works council has started on 21 January 2013.
Eurofound (2013), Radio Television Valenciana (RTVV), Closure in Spain, factsheet number 76289, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76289.