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.
Credito Valtellinese (Creval), an Italian banking institute, has announced 150 job-cuts in its 2012-2014 business plan. This decision was reached after consultation with the trade unions.
The plan envisages measures aimed at reducing negative effects for the redundant workers, i.e. economic incentives and the recourse to the sectoral solidarity fund.
The Credito Valtellinese group includes four territorial banks: Creval, Credito Artigiano, Carifano and Credito Siciliano. Creval has around 4,500 employees.
Eurofound (2012), Creval, Internal restructuring in Italy, factsheet number 74014, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74014.