Spanish baker Panrico has declined to comment on reports it has asked staff at its Valladolid facility in north-central Spain to accept a pay cut in order to avoid closure of the plant.
According to local reports, the company has told the 200 employees of the facility they must accept a 15% reduction in wages and an increase in their working day in order to avoid closure of the plant.
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The request is part of a restructuring plan being undertaken by the firm in order to gain profitability, according to La Informacion.
A spokesperson for the company, however, declined to comment on the reports. He said: “The company neither confirm nor deny this information.”
It is understood staff members have agreed to take time to consider the offer.
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In May, Panrico announced plans to close its production facility in Seville in a bid to “remain competitive”, resulting in 197 job losses.
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By GlobalDataThe company said the closure, which saw production move from Seville to Panrico’s Puente Genil-based facility in Andalusia, was in keeping with its strategic plan to “optimise production units and remain competitive in the current economic crisis”.
