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.
Diadora, an Italian sportwear company, is to cut 172 jobs. In 2009, the company, which suffered economic and financial crisis, has been bought by the LIR, the Mario Moretti Polegato's personal investment company. Mr Polegato is the founder and chairman of shoe retailer Geox.
In July 2009, the new owner and the trade unions reached an agreement that envisages the recourse to the 'extra-ordinary' Wage Guarantee Fund for the 172 redundant workers. The new Diadora will have around 150 employees.
Eurofound (2009), Diadora, Internal restructuring in Italy, factsheet number 69433, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69433.