Cemex Espana adjusts downsizing plan

Cemex Espana is to adjust its downsizing plan for its domestic operations from the initial 370 planned job buts to 280. 

The 25 per cent 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 per cent of all 1740 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.

The staff adjustment will be carried out due to the decreased demand for cement in the country. Cemex booked a 19 per cent drop in its sales in Spain for 2011. (Source: Expansion)