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.
Italian car rental group Maggiore is to dismiss 141 employees. The management attributed the job cuts to a forecasted decrease in revenues. However trade unions claim that Avis Budget, the parent company which has recently acquired Maggiore, is hiring new personnel whilst implementing collective dismissals. According to the unions, Avis Budget group is fraudulently replacing older workers with less costly young employees in breach of the law on collective redundancies. In addition, trade unions denounce that the company's alleged financial problems are essentially not existent as the latest budgets reported profits.
The company employs a total of 287 workers on the Italian market, of whom 120 are employed at the Rome site.
Eurofound (2015), Maggiore, Merger/Acquisition in Italy, factsheet number 85019, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85019.