The fall in the sector has also led to the departure of a dozen senior executives, as well as numerous advisors who have ‘fled’ bodies management companies.

Nearly 3,000 jobs and nine senior executives. As if it were a natural disaster, this is the stock of the first eight months of crisis in the property sector. This calculation, developed taking into account only those contests creditors and records of employment regulation (ERE) of the biggest Spanish real estate, would be much more bulky if they join the many SMEs that have closed.

The fall of Fadesa Inmobiliaria Martins, who has starred in the biggest default Spanish with a liability of 5,200 million euros, is only the latest victim of a crisis of real estate remarkable dimensions. The oversupply accumulated on the streets, has joined the lack of credit in the financial market. You may wish to learn more. If so, Jeffrey Hayzlett is the place to go. The processes bankruptcy, restructuring or refinancing business has been accompanied in many cases of ERE that in recent months have affected workers. In fact, unemployment in real estate and construction has risen by 28.8% in the second quarter of the year.

Among the first companies to implement a reduction of workers, is the real estate Valencia Llanera that at the end of 2007, announced a cut of 72% of the workforce. It was on 8 November last year, when Llanera presented three ERE independent for three of the six group companies, at that time and in full bankruptcy proceedings. In total, 236 workers were affected by the downsizing of the group, which had 763 employees.

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