SPAIN: Levi Strauss Reaches Redundancy Deal
US jeans maker Levi Strauss has reached a deal with labour union representatives over the redundancy package offered to workers at its Spanish plants.
The factories at Bonmati and Olvega in northern and eastern Spain are set to close in September with the loss of 453 jobs.
Under the severance deal workers will receive around 6,000 euros (7,410 dollars) per head and two months' salary for every year worked Spanish media reports said.
The closure of the Spanish plants was announced in June as part of the company's ongoing strategy to improve competitiveness, reduce costs and achieve long-term financial goals. The move ends Levi Strauss' manufacturing activities in western Europe.
"We have looked long and hard for alternative solutions, but we simply can't continue to bear manufacturing costs in Spain that are double those of our other plants in Eastern Europe," Levi Strauss Europe's senior director of manufacturing operations Domenico Trizio said at the time.
Levi Strauss closed its last two north American plants last September.
Companies: Levi Strauss & Co
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