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.
Almaviva is an Italian leading provider of information technology and business process outsourcing solutions.
The group is made of 17 companies with about 15,000 employees and collaborators, who work in 39 offices in Italy and three abroad. Its principal subsidiaries, including joint-ventures, are Almaviva Finance, Almaviva Consulting, Almaviva Sud, TSF-Tele Sistemi Ferroviari, Actalis, Alicos, Atesia, Almaviva do Brasil and Cos, which is the main company in the Italian call centre sector, with around 12,000 employees.
At the end of 2006, Almaviva acquired Finsiel, one of Italy's leading IT consulting and services providers and the group announced a reorganisation plan, with the consequent loss of 600 jobs.
In February 2007, the Almaviva group and the trade unions reached an agreement on the redundant personnel. The agreement provides that around 200 redundant workers will enter the 'long mobility' track, a 'social shock absorber' measure that supports the incomes of redundant workers until they reach retirement age. The programme will last seven years maximum. The redundant workers, who are not included in the 'long mobility' track, will be placed on the extraordinary Wages Guarantee Fund - another 'social shock absorber' that cushions the effects of restructuring and redundancies - from March 2007 to March 2008. Moreover, the agreement envisages, for these workers, the use of the 'short mobility' with a view to early retirement, and the provision of economic incentives for voluntary resignation.
Eurofound (2007), Almaviva, Merger/Acquisition in Italy, factsheet number 65078, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65078.
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