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 Italian company Amplifon, the world's largest hearing aid retailer, has announced a workforce reduction of 188 workers in Spain: 98 in Amplifon itself and 90 in Microson (Amplifon’s hearing aid factory in Spain). The company's decision is motivated by technical, organisational and production measurements that will ensure company's long-term sustainability. According to affected workers' representatives, the company has reported many duplicate staff positions. Amplifon has offered the affected employees a compensation of 20 days per year worked, with a maximum limit of 12 monthly payments.
According to workers' representatives, company's revenues are sufficient to keep the workforce. Therefore, the workers have already organised acts of protest against management's decision. Currently, the company is negotiating the conditions of collective dismissal with employees' representatives, who are requiring compensations above the legal minimum.
This restructuring process occurs after Amplifon acquired Gaes and Microson in 2018.
Eurofound (2019), Amplifon, Merger/Acquisition in Spain, factsheet number 98768, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98768.