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 multinational company Delphi, which specialises in the manufacture of motor vehicles components, has announced a labour force adjustment plan for its plant in San Cugat del Valles (Barcelona) that will affect its entire workforce of 536 employees. At the end of the process, the company expects to close the manufacturing plant. The plan was presented on 29 March 2016. At this time, a negotiation process with the trade unions has been opened, and will last one month.
The company has justified the measure due to a business environment that does not allow the firm to remain competitive, as well as structural costs at the factory and the lack of sufficient workload. The company will offer similar dismissal conditions offered in previous adjustment processes: severance pay up to 65 days per year worked up to a maximum of 22 months. Workers older than 56 years will be entitled to early retirement plans. According to the working committee, the announcement has surprised regional politicians who were in favour of supporting the reindustrialisation of the company.
Eurofound (2016), Delphi, Closure in Spain, factsheet number 86884, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86884.