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 Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
1,000 jobs Number of planned job losses
Announcement Date
20 May 2004
Employment effect (start)
Foreseen end date
Description
The Finmek group, which manufactures communication and information technology equipments, has 11 plants in Italy and employs some 2,700 people. It has been affected by relevant economic and financial problems which have brought the company into a sort of pre-bankruptcy procedure (amministrazione straordinaria) which should help relaunch the firm and avoid proper bankruptcy. The company management and union reached an agreement on the restructuring plan which now envisages some 1,000 redundancies, instead of 1,500 as formerly announced.
Sources
22 May 2004: Il Sole 24 Ore
Citation
Eurofound (2004), Finmek, Bankruptcy in Italy, factsheet number 60421, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60421.
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