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.
Tubacex, the Spanish multinational manufacturer of joined tubes, has announced a restructuring programme, affecting 500 employees in Spain. The programme aims to reduce costs amounting €25 million in 2021. The company, with headquarters in Alava (Basque Country), explains that the restructuring is due to the negative evolution of the sector in recent years together with the impacts of the COVID-19 crisis. However, Tubacex assures the continuity with its industrial strategy aimed at concentrating high value-added products in Spain, Italy and Austria.
The company will initiate internal consultation process with its employees to develop a socially acceptable redundancy programme.
Updated, 01/02/2021:Tubacex has announced to the unions the details and the starting of its workforce adjustment in Spain (after reorganising its structure in the rest of the world): the company is initiating a collective redundancy plan for its two plants in Alava (located in Llodio and Amurrio), affecting 150 employees (18.75% of the total workforce of both centres).
Updated, 04/10/2021:After more than 8 months on strike, Tubacex and the ELA union (majority union in the company) have signed an agreement to avoid the collective layoff plan that could finally affect 129 people. More than 70% of ELA's membership in Tubacex has ratified the signing of the agreement.
Eurofound (2020), Tubacex, Internal restructuring in Spain, factsheet number 101413, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101413.
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