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.
Adveo, a retailer which specialises in office supplies and services, has announced that it will cut 135 jobs in Spain. The job cuts follow negotiations with trade unions where the company reduced the number of proposed dismissals from 160 to 135. According to the source, the dismissals will be implemented by 31 March 2015. This measure is part of a global restructuring plan announced in January 2014 and the source reports that the dismissals are due to economic pressures and organisation changes.
According to the source, workers who are made redundant will receive a severance pay higher than the statutory Spanish level, although the specific amount has not yet been publically announced. As part of the agreement, the company has pledged to help employees find another job.
Eurofound (2014), Adveo, Bankruptcy in Spain, factsheet number 77045, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77045.