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 textile company Promod will implement an employment adjustment plan affecting 132 workers (32% of its entire workforce in Spain). 128 of the dismissals will affect staff working in the shops while the remaining 4 dismissals will affect staff at the headquarters. The measure will also imply the closure of around half of the 53 establishments that Promod has in Spain. Promod justified the dismissal on the basis of economic reasons. In 2016, the company has foreseen that revenues will be reduced by 37% in 2016
Eurofound (2016), Promod, Closure in Spain, factsheet number 89294, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89294.