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 division of UK online insurance provider Direct Line is to dismiss 200 workers out of a total workforce of 800 at its site of Cologno Monzese (Milan).
The company decided to carry out a reorganisation process due to a sharp decline in sales. In addition to the job cuts, the reorganisation involves the immediate discontinuation of company-level agreements currently providing benefits and wage bonuses. The site, which manages insurance policies and provides customer services, employs mainly young and female workers.
The unions termed the decision as 'unacceptable', complaining about the absence of an industrial plan, and announced a 40-hour strike.
Eurofound (2016), Direct Line, Internal restructuring in Italy, factsheet number 88018, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88018.