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.
General Montaggi, an Italian construction company, has cut 100 jobs at its plant of Castelnuovo Rangone.
According to the sources, all of the company’s workers received letters notifying them that the company would cease its activities on 30 April. The sources notes that the company has not confirmed the reason for its closure, but trade unions suspect it is related to the recent merger with the Romanian firm Fruit Marius.
The White and Blue-Collar Metalworkers Federation (Federazione Impiegati Operai Metallurgici, FIOM) has requested a meeting with the company, however they have not been consulted about the restructuring so far.
Update 17 June 2014: According to the sources, 48 people have so far been made redundant at the company. The remaining workers were made redundant from General Montaggi and then be re-hired by Piedmont GMT. During negotiations with Trade Union FIOM in May, representatives of the General Assemblies ensured the withdrawal of layoffs and initiated procedures to allow workers to access social security benefits. Trade union FIOM has asked for the intervention of the public institutions. According to the sources, the Province of Modena announced its commitment to ensure a positive solution.
Eurofound (2014), General Montaggi, Merger/Acquisition in Italy, factsheet number 77010, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77010.