EMCC European Monitoring Centre on Change

Martinsa Fadesa

Company/Organisation:
Martinsa Fadesa

Geographic Location

Country: Spain
Region: Comunidad de Madrid
Location of affected unit(s): Madrid

Company

Sector: Construction
Construction
41 - Construction of buildings
Number Employed: 880

Employment Effects

Announcement Date: 15-07-2008
Planned Job Reductions min: 532
Planned Job Reductions max: 532
Type of Restructuring: Internal restructuring
Employment Effect Start: 15-09-2008
Foreseen End Date: 15-12-2008
Direct Dismissals: 532

Additional Information

The Spanish construction company Martinsa Fadesa has presented a second redundancy procedure (expediente de regulación de empleoor ERE) to dismiss 234 workers. In 2008, the company presented a first redundancy procedure to lay off 298 workers (60,8 % of its workforce).The decision is due to the sharp decline in housing sales in the unfavourable economic climate.