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.
Acciai Speciali Terni, one of the leading European special steel manufacturers, is part of the German Thyssen Krupp Stainless group, which employs some 12,000 people worldwide and is the first world manufacturer of flat stainless steel. On 29 January, the company management announced the closure of the 'magnetic steel' works in Terni, which employs directly some 480 people and around 500 workers in outsourced activities. The Terni plant now employs a total of 3,500 people. The production should be relocated in the French and German plants of the group, with a view to concentrate production capacity. The announcement led to a widespread mobilisation of workers, unions and local authorities. Negotiations have been announced at the Ministry of Labour and are due to start on 3 February 2004.
After the agreement reached at the Ministry of Productive Activities in the second half of February, which included the commitment of Thyssen Krupp to keep the 'magnetic steel' works of Terni and present an industrial plan within 90 days, the company announced, in late March 2004, 204 redundancies. The unions have criticised the company's decision and negotiations are now under way.
Eurofound (2004), Acciai Speciali Terni, Internal restructuring in Italy, factsheet number 59684, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59684.
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