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.
Manufacturer of industrial packaging Pansac International is to dismiss 300 people. The company has been under extraordinary administration since 2010. Whereas some of its plants have been acquired by investors or by the workers themselves in the meantime with the consequent hiring back of some of its employees, the Wages Guarantee Fund (involving temporary layoff with subsidised wages) has supported other redundant workers up to June 2015. During the latest negotiations held at the Ministry of Labour premises, unions tried in vain to find viable solutions to obtain a extension of the income support benefits beyond the limits set by law. Most of the layoffs will occur in the province of Venice, with 240 employees at the Mira, Portogruaro and Marghera plants.
Eurofound (2015), Pansac International, Bankruptcy in Italy, factsheet number 84016, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84016.