Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The metal fences and security systems company Betafence announced its intention to close its seat in Tortoreto (Abruzzo) by 2021 and dismiss all the 155 employed workers.
The company is a worldwide exporter and it is part of the English multinational group Praesidiad, owned by the Carlyle fund. The announcement was given by the company's British management during a presentation on the economic situation of the group.
According to the management, the decision is connected to the minor productivity of the site and prospects of a recession in the sector. The trade unions, instead, suggest that the company is planning to offshore to Poland, where labour costs are lower.
The workers started a permanent picketing in front of the company and ask for negotiations on the plan.
Eurofound (2020), Betafence, Closure in Italy, factsheet number 101513, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101513.
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