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 company Gearbox is owned by car manufacturer Seat(division of Volkswagen). The company is specialised in the manufacture of components for motor vehicles. Seat management has planned the reduction of activity of its subsidiary Gearbox with the creation of approximately 300 redundancies out of 1,200 employees. The reason of this measure has been the lack of demand of the components produced by Gearbox. The job reduction measures include direct and indirect redundancies, compensations and early retirement. No reactions have been yet appointed by the labour representatives.
On 16 August 2005 the final number of dismissed employees authorised by the regional authorities came to 222.
Eurofound (2005), Gearbox, Internal restructuring in Spain, factsheet number 61539, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61539.
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