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.
Peg Perego, a manufacturer of children’s toys and other products for infants, is to cut 155 jobs at its Arcore site. The job losses were set out in a re-organization plan announced by the firm on September 12th 2007, and are to be implemented by the end of October 2007. Peg Perego employs 638 at its Arcore site. Management at the firm attribute the decision to the need to remain globally competitive in the face of the recent appreciation of the euro against the dollar and the yen.
Trade unions at the Arcore site have reacted to the announcement by calling a series of strikes. The unions are demanding meetings with firm management in order to discuss ways to avoid the redundancies envisaged by the firm’s restructuring plan. Peg Perego is an Italian multi-national group that operates several sites in Italy and others in Brazil, Canada, and the U.S.
Eurofound (2007), Peg Perego, Internal restructuring in Italy, factsheet number 65869, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65869.