The negotiations for the restructuring of what is the largest producer of natural stone in Spain, the Alicante group Levantinahave advanced this week although an agreement has not yet been closed. The company’s management has offered reduce by about 50 people the number of people affected, which initially reached 244, to try to facilitate progress, according to union sources.
Specifically, 30 jobs would be reduced in the Novelda marble plant and another 20 jobs in the case of the Monte Coto quarry in Pinoso, the world’s largest reserve of marble of the Alicante ivory variety. Precisely Levantina’s labor adjustment, which seeks to reduce production to try to become profitable again with less volumeis concentrated in its activity centers in Vinalopó, in the interior of the province of Alicante.
Although the cut is in line with the demands of the workers’ representatives, the works council states that conditions are still considered insufficient proposed for the departure of workers, fundamentally compensation.
The key to compensation
In the last meetings, the company’s offer was at 25 days per year worked and a maximum of 12 monthly paymentsamounts that the union representation considers can be improved. The talks are expected to continue next week, although any pre-agreement will in turn have to be voted on in an assembly by the workers.
The natural stone group controlled by the background Polus Capital Management (which absorbed Bybrookthe fund that acquired the marble factory) is going through a long crisis and has undergone several adjustments in the last decade due to its lack of profits and changes of hands due to the high debt it maintains. For this reason, the group has closed several refinancings in recent years.
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