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 Danish multinational Vestas (dedicated to manufacturing, sale, installation and maintenance of wind turbines) has announced the closure of its factory in Viveiro (Lugo), affecting to115 employees. The company explains that the closure is due to both the decrease in demand for generators for the 2 MW platform (manufactured at that plant) and the need to optimise offshore manufacturing. The company has also emphasized rellocations for those affected workers in other plants of the company in Spain are prioritized. The company's restructuring plan will also involve the closure of the plants of Lauchhammer (Germany) and Esbjerg (Denmark). The company will now start the consultation period of the collective redundancy plan with the workers' representatives of the factory.
Update 29/12/2021: Vestas and workers' representatives have reached an agreement to dismiss the 115 workers of the plant and to transform the Viveiro factory into an operation and maintenance centre. The company will implement an early retirement plan for those over 55 years of age and will pay a compensation of up to 67 days' salary per year worked. The agreement includes also an extension of the deadline for interested employees to access the new jobs created after the conversion of the factory. The agreement was endorsed by the factory workers and signed by the entire works council, integrated by UGT, CCOO and CIG. However, unions assure they preferred to reach an agreement because of the difficulties of a legal annulment of the collective dismissal plan. And even if it were to reach it, that would probably lead to another adjustment plan within a few days.
Eurofound (2021), Vestas, Closure in Spain, factsheet number 105367, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105367.