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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
150 jobs Number of planned job losses
Announcement Date
31 October 2003
Employment effect (start)
1 November 2003
Foreseen end date
1 December 2004
Description
Piaggio Aero Industries produces executive aircrafts. Sales and economic performance has been improving since the company was taken over by new owners five years ago. Now, the company is implementing a restructuring process which will involve some 150 redundancies among indirect workers, mainly white-collars and including managers. Job reductions will be ensured through soft measures and essentially by 'accompanying' to retirement workers who are close to retirement age.
Sources
1 November 2003: La Stampa
Citation
Eurofound (2003), Piaggio Aero Industries, Internal restructuring in Italy, factsheet number 60184, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60184.
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