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 management of Abengoa has announced its intention to apply an employment adjustment plan affecting 500 workers (10% of its entire workforce). Trade unions have strongly rejected the proposal, criticising the fact the employment adjustment will affect employees on permanent contracts. Moreover, they have claimed the strategy has broken the climate of social dialogue, as employees and unions were informed via media outlets and not directly. At this stage they do not know which companies or departments will be affected by the measure. In response, they have called for an emergency meeting with the company to discuss the situation.
Abengoa is a publicly-owned company group working in various sectors such as telecommunications, energy, transport and the environment. It is facing serious economic difficulties and states that it needs a credit line of € 1,800 million in order to reduce employment impacts.
Eurofound (2016), Abengoa, Internal restructuring in Spain, factsheet number 87384, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87384.
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