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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
75 - 305 jobs Number of planned job losses
Announcement Date
15 May 2015
Employment effect (start)
31 July 2015
Foreseen end date
31 December 2016
Description
Software and hardware manufacturing company Olivetti has announced 332 redundancies at the Ivrea site, near Turin.
Long-time leader in the international market for typewriters and computers, Olivetti has become part of the Telecom Italia group since 2003. According to the new 2015-2017 industrial plan, the company will merge with the Telecom Italia subsidiary company Digital Solutions which currently employs about 200 workers. Its activities will focus mainly on IT services for small and medium enterprises.
The merger will result in a headcount reduction to be achieved mainly by way of relocation to other companies controlled by Telecom, incentivised early retirement or outplacement. Trade unions have opposed the decision and organised a strike. According to unions, the new plan lacks a commitment to invest in Olivetti activities and demonstrates the inability of Telecom Italia to develop its activities, entailing the risk of transforming Olivetti into an empty brand.
Other restructurings announced by Olivetti have been reported previously on the ERM. In 2005, the company offshored some production activities from the site in Agliè (Turin) to other countries with the loss of 200 jobs. In 2008, the same site was finally closed (260 job losses) and production was relocated to Arnad (Aosta).
Update 21/12/2015: Negotiations were finalised after the signature of agreements in September 2015 and December 2015.
The parties agreed about 75 job cuts, to be achieved through incentivised voluntary dismissals, and early retirements. In addition, the agreements provide for 230 relocations within Telecom Italia, whilst a further 230 employees will be passed on to the new company resulting from the merger of Olivetti with Digital Solution.
The Federation of White and Blue-Collar Metalworkers (FIOM) refused to sign the agreements,indicating that the company has been demoting and relocating workers in Telecom Italia, though negotiations were still ongoing. They also complained regarding the lack of a clear industrial plan.
Sources
15 May 2015: Il Sole 24 Ore
15 May 2015: La sentinella
18 May 2015: La sentinella
26 September 2015: La Sentinella del Canavese
Citation
Eurofound (2015), Olivetti, Merger/Acquisition in Italy, factsheet number 83595, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83595.
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