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.
Safosa, one of the European leaders in the cosmetic market, has announced that it is to cut 105 jobs at the plant located at Gaggiano, in the province of Milan. The job losses were set out in a re-organisation plan introduced by the firm in order to improve its economic performances to cope with the increasing global competition.
The trade unions reacted to the company’s reorganisation plan by going on strike and blockading the factory gates. They required meeting the company’s representatives in order to define suitable measures, such as “mobility” with a view to early retirement and economic incentives for voluntary resignation, for the workers who could be affected by the plan.
Safosa was founded in 1983 with the acquisition of the cosmetic unit of one of the most ancient pharmaceutical Italian company. Today, it is one of the European leading companies in the cosmetic field. It currently employs more than 400.
Eurofound (2008), Safosa, Internal restructuring in Italy, factsheet number 66215, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66215.
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