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.
General Electric (Ge) is an American multinational conglomerate corporation operating in technology and service industry, is to dismiss 236 employees at its site in Sesto San Giovanni (Milan).
The dismissals are part of a wider industrial plan, entailing 6,500 job cuts in Europe at power generation and electricity transmission sites acquired from Alstom in November 2015. The management attributed the decision to cut the jobs to the sharp decline in demand for gas turbines over the last years. In Italy, the site in Sesto San Giovanni will cease production of turbines and stator bars and reduce administrative activities, product design and maintenance services.
According to the national coordinator of the Fim-Cisl union for Alstom, about 211 dismissals will take place in 2016 and the remaining 25 in 2017. The plan is deemed by the union as 'unacceptable' and 'irrational', and hinted that it could involve the delocalisation of activities to Poland and Romania.
On 15 January workers went on strike against the layoffs and organised demonstrations. In the meantime the Lombardy regional Council approved a motion for the intervention of the government in the negotiations. Both the local administration and trade unions seek to achieve an agreement with the company in order to maintain production and employment.
Eurofound (2016), General Electric, Merger/Acquisition in Italy, factsheet number 86206, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86206.
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