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.
KME, a world leader in the copper industry, is to cut 200 jobs in its Italian production and administrative sites, located at Florence and Fornaci di Barga (in the province of Lucca). At the end of several meetings, at 20 April 2009, the company and the trade unions reached an agreement on the reorganisation plan. The agreement envisages that the job cuts should mainly affect the workers close to the retirement age and who will depart voluntary. Moreover, the agreement provides for the recourse to both the extraordinary Wage Guarantee Fund and the 'job security agreement' scheme. These measures will be applied to all the KME's workers on a rotation basis and they will last one year. The company will create a 'KME Benevolent Fund' in order to support all the employees who suffer a financial or economic crisis. The fund will issue easy-term loans. KME group is the world's largest manufacturer of semi-finished copper and copper alloy products. The group has its head offices in Florence. It has 6,800 employees in Europe and around 1,600 in Italy.
Eurofound (2009), KME, Internal restructuring in Italy, factsheet number 68867, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68867.