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 Ford Spain automobile company has presented a redundancy scheme for 600 dismissals at its Almussafes plant (Valencia). This is necessary to assure the future viability of the factory, which generates over 42,000 job posts (7100 direct and 35,000 indirect jobs). After the official opening of the consultation period for redundancy scheme negotiations, the company explained that the restructuring, which will affect 8% of the Almussafes staff, is in line with global initiatives being undertaken by the company. It also justified its decision to eliminate the third shift at the Valencian plant due to the 'unprecedented' fall in the European automobile market, despite the implementation of scrapping plans, it continues to be in a situation of ‘great weakness'. Furthermore, Ford does not expect improvements as purchasing aids come to an end. In June, Ford approved a temporary redundancy scheme that affected 360 employees through year end. The company had initially planned on expanding this number to 1100 employees. Since the beginning of 2008, several temporary schemes and workday reduction plans have been approved at the assembly and engine plants.
Eurofound (2009), Ford, Internal restructuring in Spain, factsheet number 69567, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69567.