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 Spanish power plant operator Elcogas has announced its planned closure, which will lead to the dismissal of its entire workforce of 150. The announcement includes the intended closure date of 31 October, which has been approved by the Ministry of Industry. Workers have rejected the closure of the company, and on 29 September the first meeting with the trade unions will be held to discuss alternative measures to keep the plant open. Moreover, they are asking for tripartite meetings, which would include the Department of Industry of the Autonomous Community of Castilla La Mancha.
Update 3/11/2015:Elcogas has communicated to their employees the withdrawal of the dismissal. The decision was communicated four days after Spain's Ministry of Industry announced that the closure of Elcogas thermal power plant in Puertollano was to be postponed for three months. The secretary of the working committee has stated that there is still work to do in order to guarantee the future of the plant.
Update 2/02/2016: The direction of Elcogas has officially announced the workers that the plant will finally close on 31 January 2016. Thus, 143 workers will be dismissed. This decision has been taken once the Ministry of Industry ruled against providing the plant a new taxation status demanded by the company. Due to this, the company is not implementing the viability plan that it foresaw to apply. The company recorded losses of €22 million in 2015, and a €217 million loss since the plant opened. The company must now open a negation process with the trade unions on the conditions associated with the dismissals. Trade unions have stressed that they still think that the viability of the plant is feasible. Accordingly, they will try to avoid the dismissals.
Eurofound (2015), Elcogas, Closure in Spain, factsheet number 84954, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84954.