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.
Selex Sistemi Integrati, Selex Galileo and Selex Elsag, three companies operating in the sector of communication systems and belonging to the Finmeccanica group, will merge to create Selex ES. As a result 350 jobs are at risk.
At the end of October, the companies and the trade unions signed an agreement on the restructuring plan following the merger. The agreement provides economic incentives for “voluntary” redundancies. The company and the trade unions predict that 350 workers will opt-in the redundancy plan because of the incentives,
The new Selex ES will have over 12,000 employees and 55 plants in Italy, and around 5,000 employees and 15 plants in United Kingdom.
Eurofound (2012), Selex Sistemi Integrati, Merger/Acquisition in Italy, factsheet number 74477, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74477.
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