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 railway services firm, Renfe, has proposed an employment adjustment plan that will affect 650 workers (around 4.5% of its entire workforce). The company aims to implement the adjustment by means of two schemes: a voluntary collective dismissal (Expediente de Regulación de Empleo) and a simultaneous voluntary redundancy scheme from the company. The collective dismissal will affect workers older than 59 years. Conditions (severance pay, etc.) related to this plan have not been disseminated yet. The voluntary redundancy scheme is addressed to workers younger than 59 years. It will include compensation of 40% of two-years salary, as well as a payment of €1,000 a month (as well as Social Security payment) for two years. The company aims to implement both plans during the first months of 2016. At this time, negotiations with the trade unions are on course. According to the company, the main goal of the adjustment plan is to increase the share of young people in the company. In this sense, it is worth noting that the company hired 75 new workers during the summer.
Eurofound (2015), Renfe, Internal restructuring in Spain, factsheet number 85232, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85232.