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.
French automobile manufacturer PSA Group (formed by Peugeot, Citroën and Opel) announced a labour force adjustment plan at the Figueruelas plant (Zaragoza). The company plans to dismiss 190 employees through an early retirement scheme. This process will be implemented until 31 December 2019, affecting employees born in the last six months of 1958. At the beginning of 2018, the plant already underwent a reduction of the workforce by around 1,101 employees through early retirements.
The company presented losses for €239.5 million in 2018. However, the restructuring implementation precedes the assembly of the sixth series of Corsa and its electric version in 2020, for which the company announced an investment of €250 million in March 2019. In the current negotiations, the union Stopel has shown its opposition to the measure, while the union CCOO opposes to the terms of the current proposal.
Eurofound (2019), PSA, Internal restructuring in Spain, factsheet number 98205, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98205.