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 Spanish subsidiary of maternity clothing and baby accessories retailer Prenatal has presented a labour force ajustment plan affecting some 273 employees (45.5% of its workforce in Spain). The initial number of redundancies was revised downwards from the initially proposed 285.
The plan has been agreed with the unions. The dismissed workers will receive compensation equal to 30 days per year worked. Furthermore, the company offers early retirement to affected employees aged over 60 years.
The measure is blamed on a new business strategy aiming to recover the viability of the company. According to the new strategy, small shops located in the centre of the cities will be replaced by larger stores in the the outskirts of cities.
A timeline for the proposed redundancies has not been provided yet.
Eurofound (2012), Prenatal, Internal restructuring in Spain, factsheet number 73346, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73346.
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