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.
Nokia Siemens Networks, a telecommunications joint venture by Finnish Nokia and German Siemens, is to cut 580 jobs in Italy, which constitutes over a half of the company's workforce in the country (1,100 employees).
The trade unions have reacted to the company's announcement by asking for the involvement of the Ministry of Economic Development in order to find alternative solutions to the expected job cuts.
In November 2011, Nokia Siemens announced to cut 17,000 jobs worldwide (see fact sheet).
UPDATE 29.10.12: In October 2012, the company and the trade unions, with the backing of the Economic Development Ministry and the Labour Ministry, reached an agreement on the restructuring plan. The agreement will make use of the Wage Guarantee Fund scheme for the 445 workers (on rotation) and provide economic incentives for “voluntary” redundancies for 349 workers. The company, with the support of social partners and local authorities, has devised certain measures aiming to develop re-training and re-employment options for redundant workers.
Eurofound (2012), Nokia Siemens, Internal restructuring in Italy, factsheet number 73524, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73524.
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