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 Carta Sì group is one of the main Italian credit services' supplier. The company, which was founded by a pool of 35 banks, has a market share of around 24% of the Italian credit card market.
On 21 February 2007, the company announced the 2007-2009 industrial plan that, essentially, envisages a high increase in the profits during the next two years, investments in the offices in Milan, and the closure of those in Rome, with the consequent loss of 150 jobs.
The trade unions harshly reacted to the company's decision announcing industrial action over the next days. In particular, the trade unions declared that the company's decision breaks a previous company agreement reached in March 2006. The previous agreement provided that the Carta Sì group would change the employment contract of its employees on 'atypical' contracts to open-ended contracts and hire the 120 workers currently employed in Bfs, a company that operates as a contractor of Carta Sì group.
Eurofound (2007), Carta Sì, Closure in Italy, factsheet number 64995, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64995.
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