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.
Tecdis, a firm that produces electronic displays for mobile phones, office and scientific equipment, is to close with the loss of 170 jobs. The closure was announced by the owner of Tecdis in June. This decision is due to the firm's financial position; in the last two years, the company has accumulated 50 million EUR of debts. The 170 employees of Tecdis will benefit from the Wages Guarantee Fund (Cassa integrazione guadagni straordinaria, 'Cigs'), a 'social shock absorber' that intervenes in cases of restructuring, reorganisation, closure, change of activity or economic difficulties. The Wages Guarantee Fund scheme will last one year. After this period, the company will start the collective dismissal procedures. Also, the Valle d’Aosta regional Government has announced that companies that hire the redundant personnel of Tecdis will benefit from tax relief.
Eurofound (2007), Tecdis, Closure in Italy, factsheet number 65611, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65611.
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