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.
Alcoa, a producer of aluminum, is to close its plant located at Portovesme (in the province of Cagliari), with the loss of 500 jobs. The closure of the Portovesme plant is part of a new business plan that the company announced on January 5th, 2012. The company has attributed the closure to high production cost.
Alcoa has started negotiations with the trade unions as well as national and local authorities in order to find adequate measures aimed at reducing the negative social effects of the job cuts. Trade unions have expressed disagreement with the company's decision to close the Portovesme plant.
Updated, 25-08-2014: On 11 April 2012, Alcoa announced its intention to stop the layoffs procedure and the recourse to wages guarantee fund (the so-called CIG). The measure will last until the end of 2014. If there is no solution, 450 workers and 350 employees of subcontracting companies will finally lose their jobs.
As reported, the Portovesme's site is not operational since November 2012 and, on 25 August 2014, Alcoa confirmed its intention to close it. Mobility procedure will start in mid-September. However, on July 2014, Glencore, an Anglo - Swiss multinational, expressed its interest in Alcoa’s activities. Trade Unions called for the intervention of the authorities in order to foster the achievement of an agreement. They also asked Alcoa to maintain the plant’s functionality in order to ease the purchase and the restart of production.
Eurofound (2012), Alcoa, Closure in Italy, factsheet number 72937, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72937.
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