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.
Evo Banco plans to close 39 of its 44 offices, leading to the dismissal of 266 employees (60% of its entire workforce in Spain). On 12 December, trade unions UGT, CCOO, FINE and CSICA, which are represented at the bank, called for a one-day strike. Industrial action was promoted to protest against the restructuring measures since trade unions assume that there are limited possibilities of achieving a bargained solution. According to the trade union UGT, Evo Banco plans to become a virtual bank in Spain. As a result, most of the offices (88%) will be closed.
Eurofound (2017), Evo Banco, Closure in Spain, factsheet number 92831, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92831.