Haya Offers the Trade Unions a Reduction in its Redundancy Plan to 232 People

3 March 2020 – Voz Pópuli

Haya Real Estate has offered its employees’ trade union representatives a reduction in the number of redundancies announced in January from 292 to 232. That represents a decrease of 21% of the number of people being made redundant in what amounts to the largest collective dismissal proceeding currently underway in the Spanish real estate sector, according to Vozpópuli.

The real estate company, which is controlled by the US fund Cerberus and which manages financial and real estate assets – for BBVA, Bankia, Sareb, Cajamar, amongst others, – worth €42.4 billion in total across all of Spain, is heading into the final week of negotiations with the trade unions. It is proposing paying the affected people compensation of 25 days for each year worked up to a maximum of 14 months.

Original Story: Voz Pópuli

Translation/Summary: Carmel Drake

16