Work restructuring in progress. Neinor Homes has agreed with the legal representation of the workers a file of employment regulation (ERE) to a maximum of 58 employees. The objective is to adapt the company’s organizational structure to the “reality of its activity and operational and business needs, in order to maintain the competitiveness, efficiency and flexibility of society and generate economies of scale.”
Specifically, the agreement reached contemplates the extinction of a maximum of 58 work contracts, which will be executed based on the operational needs of the company, providing that these extinctions occur until March 31, 2025. Individual communications to the affected workers will be carried out in accordance with the provisions of the Consolidated Text of the Law of the Workers’ Statute, approved by the Royal Legislative Decree 2/2015, of October 23.
The measure is launched after the acquisition of 10% of Habitat, an agreement that included the transmission of the real estate management on behalf of third parties of said company in which 118 people work. Last September, Neinor Homes signed an agreement with Merak IMS, a company controlled by Bain Capital Funds, to take 10% of the capital of promotions of Habitat for an approximate amount of 31 million euros. At the same time, Neinor signed a management contract with Habitat, by virtue of which the promoter will provide management services to the real estate asset portfolio that have remained under the ownership and control of habitat.
This asset portfolio has the capacity to develop 8,000 homes and, at the end of 2023, was valued at approximately 700 million euros. This management contract entered into force on October 1 and, within the framework of the same, Habitat transmitted to Neinor the assets that make up the real estate management business on account of third parties. Consequently, Neinor subrogated, as an employer, in the labor relations that Habitat maintained with the employees corresponding to said business.
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