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.
Ceramic tile manufacturer Zirconio, located in Villareal (Spain), decided to stop its manufacturing operation (closing furnaces facilities), and to outsource its production. As a result, 125 employees will be dismissed. However, the company will maintain its marketing and logistics operation departments with 44 employees.
The company was purchased in 2013 by Niro Group of Malaysia. The layoff was implemented after several years of financial losses. The decision comes at a time when the company had to decide between outsourcing production or to undertake an important investment to modernise its production plant, an option not accepted by the Malaysian group. The layoff package includes compensation payments of 25 working days for each year in the company up to a maximum of 15 years and agreements with Social Security to ease pre-retirement plans for workers over 55 years old.
Eurofound (2018), Zirconio, Outsourcing in Spain, factsheet number 93812, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93812.