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 firm Barloworld Finanzauto, which distributes in Spain vehicles and equipment of the company Caterpillar, has announced its intention to implement an employment adjustment affecting 192 workers. The measure envisages the closure of 6 establishments in Spain.
According to the trade union CCOO, the company justified the measure noting that previous employment adjustment could not improve the situation, achieving the desired profitability. The company aims to close 6 establishments and is also considering the possibility of merging some of them. Currently, the company has 17 establishments in Spain. Its goal is to close the establishment located in Córdoba, Logroño, Málaga, Mérida, Murcia and Valladolid. In addition, the company wants to increase working time by 100 more annual hours. The measure will be discussed with the trade unions in the following weeks.
Eurofound (2017), Barloworld Finanzauto, Closure in Spain, factsheet number 91374, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91374.
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