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.
Transportation / Storage Land, Water And Air Transportation Land Transport And Transport Via Pipelines 49.31 - Urban and suburban passenger land transport
120 - 150 jobs Number of planned job losses
Announcement Date
21 December 2014
Employment effect (start)
1 January 2015
Foreseen end date
31 December 2015
Description
Turin public transport operator GTT (Gruppo Torinese Trasporti) announced 120 job losses in 2015. The job cuts will affect white-collar workers and will be implemented through an early retirement scheme. Further jobs are expected to be cut through voluntary and incentivised redundancy procedures. Redundant staff will benefit from income support instruments until they are eligible for retirement.
The decision to reduce the costs of the company by implementing job cuts follows the withdrawal of the Turin city council from the decision to sell a stake to private shareholders. Over the last years, tenders were issued unsuccessfully until December 2014, when two prospective buyers, Arriva and Trenitalia, also withdrew their interest in acquiring shares of the company .
The restructuring plan is expected to increase financial stability of the company and savings may be used to recruit new bus drivers.
Sources
21 December 2014: La Stampa
27 December 2014: La Repubblica
Citation
Eurofound (2014), GTT (Gruppo Torinese Trasporti), Internal restructuring in Italy, factsheet number 78343, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78343.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
