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.
Alitalia, the Italian state-owned airline, is to cut 1,000 jobs. The job losses will affect the group's operations across Italy and are thought to involve the loss of 450 ground staff positions, 400 flight attendant positions, and 150 pilot positions. The job losses are the result of the group's continually fragile financial position. The current reorganization plan also makes provisions for a reduction in the number of flights run by the group and a relative shift of the group's operations from Malpensa airport in Milan to Fiumicino airport in Rome. The group has also undergone several other restructuring plans in recent years. The latest, in September 2004, cut 3750 jobs but failed to significantly improve the financial position of the group. The origin of the current restructuring plan was in the Italian Government's attempt at the start of 2007 to sell its shares in group by tender. However, all competitors withdrew from the tender and the current restructuring proposals are part of an attempt by the Italian Government to create adequate conditions for the future sale of its shares in the group.
Alitalia has 179 planes and employs 10,400 in Italy. Further details of a reorganization plan between the group and trade unions are expected to be disclosed in September 2007.
Sources
31 August 2007: Il corriere della sera
1 September 2007: Il corriere della sera
31 August 2007: Il manifesto
31 August 2007: La Stampa
Citation
Eurofound (2007), Alitalia, Internal restructuring in Italy, factsheet number 65761, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65761.
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