Spain: Cemex España, the Spanish unit of Mexican cement company Cemex, will launch a downsizing plan for 280 employees, down from the initial intention to cut 370 jobs. The 25% reduction came as a result of an agreement reached between the company's management and trade unions.
The employees to be affected by the staff-reduction measure account for 16% of all of Cemex's 1740 employees in Spain at present. The laid-off employees will receive severance pays of 30 days per every year of work but not more than 22 monthly salaries.
Cemex's adjustment has had to be carried out due to the continued low demand for cement in the country. Cemex reported a 19% drop in its sales in Spain in 2011. The country is the company's third largest market in terms of the number of cement production plants after Mexico and the USA.
