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.
Piaggio Aero Industries, a leading company in aeronautic sector, is to cut 165 jobs in its plants located at Genoa Sestri Ponente (117 job cuts) and Finale Ligure (48 ones), in the Liguria region. Moreover, the reorganisation plan announced by the company envisages also the loss of 207 outsourced jobs (108 at the Genoa Sestri Ponente plant and 99 at the Finale Ligure plant), with the consequent closure of the Genoa plant.
According to the company, the reorganisation is due to the creation of a new site (located at Villanova d’Albenga, in the Liguria region), which should employ around 900 workers. The new plant is currently under construction and it should be operational at the end of 2014.
The trade unions reacted to the company’s announcement requiring the involvement of national and local authorities in order to avoid the closure of the Genoa plant.
For previous restructuring events see Piaggio Aero Industries-2010and Piaggio Aero Industries-2003.
Updated, 05/06/2014: On 5 June 2014, trade unions and Piaggio Aero Industries management reached an agreement at the Ministry of Economic Development to avoid lay offs. Subsequently, the agreement was approved by workers through a referendum.
The company will move its manufacturing activities to the Villanova plant but it will invest € 135 million in Liguria and ensured that the Genoa site will not close. In fact, the framework agreement foresees that trade unions, company’s management and local institutions will individuate new activities for the Genoa plant in order to avoid layoffs.
As reported redundant workers will be supported by the wages guarantee fund (CIG) for 4 years.
Eurofound (2014), Piaggio Aero Industries, Relocation in Italy, factsheet number 76447, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76447.