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.
ThyssenKrupp Galmed, part of the German multinational steel conglomerate ThyssenKrupp, has announced plans to apply for a redundancy procedure (ERE) affecting all 165 employees at its plant in Sagunto (Valencia), Spain.
The unions reacted strongly and the plan created a lot of controversy: MEP Francisco Sosa Wagner (UPyD) has asked for an official answer by the European Commission on the case (see here).
The first consultation meeting between the management and workers representatives has already taken place to discuss the conditions for the restructuring plan, as a preliminary measure to the plant's closure. The next meeting will be held on 9 July 2013.
The restructuring in Galmed TK is part of a large restructuring plan previously announced (see [here] (https://apps.eurofound.europa.eu/restructuring-events/detail/74898)).
Eurofound (2013), ThyssenKrupp Galmed, Closure in Spain, factsheet number 75636, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75636.