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.
Firema Trasporti, an Italian company involved in the production and maintenance of rolling stock, plans to dismiss 119 workers.
The company has been under special administration (amministrazione straordinaria) since 2010 and has now found an investor group interested in acquiring its assets. However, the new company intends to keep only 403 positions out of the 522 workers currently employed. It also disclosed its intention to reduce wages by 18%, lowering them to the levels set by the relevant National Collective Bargaining Agreement.
On 9 March 2015, the Minister of Economic Development, the authority responsible for the special administration procedures, accepted the proposal as the only alternative was the bankruptcy of the company and the closure of its factories. The unions expressed satisfaction at the negotiations. However, they wish to improve the plan in order to save all the 522 job positions and to maintain current wage levels.
Eurofound (2015), Firema Trasporti, Merger/Acquisition in Italy, factsheet number 79378, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79378.