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 Austrian-Canadian automobile parts manufacturer Magna plans to lay off 2090 employees from its Opel plant in Figueruelas, Zaragoza, within the next two years. Magna plans to reduce its workforce from 6401 to 4311 employees. This is expected to affect other sectors in the surrounding Aragon community.
According to a Harbour report, an independent company that assesses companies' productivity, the Opel factory in Figueruelas is one of the ten most competitive plants in the world. It is also GM's top plant. A car manufactured in Figueruelas and shipped to its destination is on average €600 cheaper than a car produced in Germany.
The dismissals in Figueruelas are expected to have a strong impact on the Aragon region. It has been calculated that every employee at the Figueruelas plant generates 8 to 15 jobs in auxiliary industries. Hence, the reduction could lead to a decrease of the region's industrial capacity by 25% as well as to a decline of its exporting capacity by 60%.
On the European level, the announced measures will lead to the dismissal of 10,952 people. Reductions are distributed as follows: - Germany: 4116 dismissals - Belgium: 2517 dismissals (the factory is being closed) - Spain: 2090 dismissals - United Kingdom: 1373 dismissals - Poland: 437 dismissals
In October 2009 the company reduced the number of dismissal to 900. In May 2010 the company laid off 272 workers; another 600 workers are to be dismissed by the end of November 2010.
Eurofound (2009), Opel, Internal restructuring in Spain, factsheet number 70571, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70571.
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