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.
Wärtsilä, a Finnish power source equipment manufacturer for the marine and energy markets, plans to close the Trieste plant in Bagnoli della Rosandra, resulting in the dismissal of 450 employees.
The company's aim is to centralise the production of 4-stroke engines in Europe in Vaasa, Finland. For the company, the Trieste site will focus on research and development, sales, project management, sourcing, services and training.
The company's decision left the employees disoriented, and in fact, a protest was organised by the union in front of the gates, blocking goods traffic. The unions met with the Prefect of Trieste, who assured meetings with the institutions to try to find a solution.
Update 10/01/2024: Wärtsilä rejected extending social safety nets for employees at the Bagnoli della Rosandra plant, resulting in 300 production workers' dismissal. The company's refusal to sign the Solidarity Contract extension will cost them approximately €30-35 million in mandatory salary payments and anti-relocation penalties. While unions continue their mobilization efforts, they are calling for government intervention to support worker reemployment and recover previously granted public contributions.
Eurofound (2022), Wärtsilä Italia, Closure in Italy, factsheet number 107107, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107107.
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