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 Italian division of the US-based manufacturer of car bearings The Timken Company (also known as Timken) started the collective dismissal procedures for its 106 workers employed in Villa Carcina, in the province of Brescia. The decision follows the announcement of the company to close the plant due to recent years constant financial losses.
The closure of the site in Brescia involves 82 blue-collar workers, 19 employees, three middle managers and the manager.
Workers have undertaken five weeks of uninterrupted mobilisation against the decision supported by the trade union FIOM, with no evident success. Currently trade unions have 75 days left to find 'alternative solutions' to those proposed by the company.
Eurofound (2021), The Timken Company, Closure in Italy, factsheet number 105153, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105153.