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.
Madrid, Zamudio (Vizcaya) and Sarriguren (Navarra)
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.20 - Activities of holding companies
109 jobs Number of planned job losses
Announcement Date
5 November 2019
Employment effect (start)
Foreseen end date
6 November 2021
Description
Siemens Gamesa, the Spanish multinational company of new technologies dedicated to wind energy, announced the dismissal of 600 workers worldwide, 109 in Spain. This announcement comes after the company's shares fell 8.68% due to the results of its 2019 fiscal year (despite doubling its profits). Siemens Gamesa points out that price pressure is affecting the margins of the wind industry and consequently the profitability of manufacturers.
At this time, the company and the workers' representatives are negotiating to reach an agreement on the adjustment plan. Unions want to prioritise early retirement plans as an implemented measure.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
