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.
Catalunya Banc is about to implement 2,250 job cuts and 450 offices closures in order to meet Brussels restructuring requirements. The layoffs will affect approximately 35% of the 6500 units workforce while the closure of 450 offices affects almost half of the 1100 offices in Spain.
Representatives of Catalunya Banc and unions formed a “negotiating ERE” table yesterday. The bank is in favor of speeding up the negotiation process and set a deadline for "express" consultations while unions argue that this consultation period should last not less than two and a half months.
Update 06-09-2013: According to the last news, the company has the intention of dismissing 2,453 employees rather than 2,250. On the 6th of September the unions have called for a demonstration aiming to complain against the measure. The unions propose to reduce the number of dismiss workers. In addition, they want propose to implement the dismissals gradually until 2016.
Update 09-10-2013: According to the last news, the company and the unions have agreed that the Redundancy Procedure will affect 2395 employees. The agreement has been possible due to the improvement of the compensation by dismissal. Workers will receive a compensation equal to 30 days per year worked up to a maximum of 22 months.
Eurofound (2013), Catalunya Banc, Internal restructuring in Spain, factsheet number 75728, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75728.
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