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.
Following the acquisition of Indesit by Whirlpool, a US appliance manufacturer, the company is restructuring and will lay off 350 workers at its plant in Carinaro (Caserta).
The group, already operational in Italy, acquired last year the concurrent company Indesit, which was already implementing a restructuring plan in its Italian sites (please see IndesitIT-2013).
The group did not disclose a detailed industrial plan for the former Indesit sites up to April 2015, when it announced a restructuring plan involving the closure of the industrial plants of Carinaro (Caserta) and Fabriano (Ancona) and of the centre of None (Torino), providing R&D activities and logistic services. A few weeks later the group disclosed as well the intention to reduce the headcount of its administrative departments for a total number of 2,060 redundancies to be implemented with effect from 2018.
However, as a result of negotiations with the government and the unions, an agreement was reached entailing the continuation of activities in Carinaro and None, and a significant reduction of redundancies. The agreement sets out 350 dismissals at the site of Carinaro, to be implemented by means of early retirement (200) and incentivised voluntary dismissals (150).
The site will be employed for the production of spare parts for the European and Asian markets and 320 workers will be trained for this purpose. The remaining employees will be relocated to the plants in Naples (100) and Varese (50). The site in Fabriano will close by the end June 2016 and its workers will be moved to the close factory of Melano (Ancona), whereas the centre of None will be outsourced to Mole Logistica, which will absorb the current staff.
The unions and the government expressed satisfaction for the new plan. Workers approved the agreement on 13 July through a referendum. For previous restructurings regarding Whirlpool in Italy, please see WhirlpoolIT-2013, WhirlpoolIT-2011, WhirlpoolIT-2008.
Eurofound (2015), Whirlpool, Merger/Acquisition in Italy, factsheet number 84252, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84252.
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