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.
Wizink, the Spanish online bank specialised in credit cards and savings products, agreed with unions a layoff plan that affects 168 workers of the company in Spain. The initial proposal of the company included the dismissal of 210 employees, but the number was significantly decreased after the negotiations.
In accordance with the agreement reached with CCOO and CSIF, WiZink Spain division will reduce its workforce by 90 people and WiZink Gestión division, by 78 professionals. The company argues the workforce reduction responds to the need of automation and digitalisation of certain processes, as well as the convenience of reducing duplicities.
Eurofound (2018), Wizink, Internal restructuring in Spain, factsheet number 96151, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96151.