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 engineering firm, Tecnatom, will apply a collective dismissal affecting 153 employees (18% of the staff). According to the announcement 59 graduate employees, 13 administrative employees and 81 technical workers will be affected. A consultation process has been opened aiming to discuss the measure with the unions that will end on 24 September 2014. The unions will propose alternative measures such as wage reduction and working time reduction. As announced, the measure is due to economic reasons. However, the union CCOO raises doubts about that argument. They state that the company recorded profits of € 3.80mn in 2013.
Updated, 09/10/2014: As reported, the company reached an agreement with the trade union that reduces the number of dismissals to 56 out of a workforce of 850 people.
Eurofound (2014), Tecnatom, Internal restructuring in Spain, factsheet number 77538, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77538.
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