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.
Italian flight operator Livingston is to lay off 234 workers. The redundant workers are benefitting of Wages Guarantee Funds since 2011, when the company, under insolvency proceedings, was acquired by a newco, the New Livingstone that hired back about 100 redundant workers and disclosed an investment plan that could save part of the remaining jobs.
Nevertheless, New Livingstone is unable to rehire the remaining staff. As reported, on 6 October, New Livingston declared the suspension of flights due to financial difficulties. Redundant workers will be entitled to a mobility allowance up to a maximum of 32 months.
Eurofound (2014), Livingston, Bankruptcy in Italy, factsheet number 77695, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77695.