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.
Spanish manufacturer of textiles for the automotive sector, Trety, will apply for a Redundancy Procedure affecting 145 employees (approximately 30% of its workforce).
The restructuring is attributed to a drop in production by 25% this year and a forecasted drop by 40% in 2013. The measure is being negotiated with the union representatives, who denounce the plan. According to reports, the unions have proposed alternative solutions such as early retirement plans and voluntary wage reductions.
Trety employed 800 people 4 years ago, and this is the second Redundancy Procedure the company has applied for since then (the first one went ahead in 2009).
Eurofound (2012), Trety, Internal restructuring in Spain, factsheet number 74673, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74673.