Spain: High redundancy payments offered at SEAT
In early March 2007, the
SEAT car manufacturing company - part of the Germany-based Volkswagen group -
announced plans to cut its 13,000-strong workforce by between 1,200 and 1,600.
There has recently been speculation about whether Volkswagen might sell off
SEAT, which made losses of €62.5 million in 2005 and €50 million in 2006, but
the parent company has now announced a €400 million investment programme. This
includes the production of two new models at SEAT's Martorell plant (in
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