Realia, a real esate company owned by Bankia (27% shareholder) and FCC (30% shareholder) has been slowly trimming its payroll. Now more than 30 employees are affected by ERE benefits, which is more than 40% of the company's staff.
The company is not accepting voluntary resignations or the general salary reductions that its workers are lobbying for. Its board does not want to set an example by taking salary cuts, either. On the contrary, the board has elected to continue paying itself well. Eight board members receive a total of 2.5 million euros, which is 40% of Realia's expenditures on payroll.
Majority shareholder FCC has approved a business strategy that sows doubts about Realia's strength as a company and questions its future. Esther Alcocer Koplowit is the CEO of FCC.
