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 new labour force adjustment plan at the Figueruelas plant (Zaragoza), affecting 461 employees born before 1960.
Thus, the firm plans to adjust the workforce through early retirements but without replacements. However, unions are demanding that these early retired employees be replaced. PSA and workers representatives are now negotiating the terms of the adjustment plan. PSA offers an amount equivalent to 18 months of salary for those who leave voluntary and who are 61 years old, and offers 12 months for workers who are older than 62 years old and leave voluntarily.
A previous restructuring affecte the Figueruelas 190 workers took place in July 2019.
Eurofound (2020), PSA, Internal restructuring in Spain, factsheet number 99811, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99811.