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 fashion retailer Blanco will apply for a redundancy procedure affecting 711 employees. The agreed plan with the unions envisages 515 job cuts from the shops and 196 from the central services.
The measure also implies the closure of 42 stores. Moreover, 172 job cuts will be implemented by means of voluntary departures.
According to the union CCOO, the job cuts are expected to be less than initially planned. Dismissed workers will receive compensation equal to 20 days pay per year worked up to a maximum of 12 months
Eurofound (2013), Blanco, Internal restructuring in Spain, factsheet number 75698, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75698.
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