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.
The Spanish bank Caixabank has presented the trade unions with a voluntary early retirement plan for 500 workers older than 57 years. The plan aims to allow the company to adjust and reduce its workforce in a non-traumatic way. The company has not yet specified the exact terms and conditions that will be offered to workers in regards to this early retirement. The company also applied a collective dismissal affecting 750 workers in 2015. This case was reported by the European Restructuring Monitor in 2015. During the planning stages of the previous round of restructuring, it was agreed that an early retirement plan may be the most positive way to proceed with restructuring in the future, and this plan is now being initiated.
Update 16/09/2016: 431 employees of Caixabank have applied to the voluntary early retirement plan agreed with the trade unions (SEPCB and CCOO). The plan envisages four alternatives:
The majority of applicants have chosen the two last options.
According to Caixabank, the plan only covers 39% of the overstaff in the company, which is estimated in 1,119 employees.
Eurofound (2016), Caixabank, Internal restructuring in Spain, factsheet number 87148, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87148.
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