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.
Monitor Elevator Solutions, a company producing components for lifts, will dismiss the 160 employees working at its sites of Vergiate (Varese) and Baranzate (Milan). The exits will affect mainly blue-collar workers.
The proprietors announced they requested the commencement of an insolvency proceeding with a view to closing the company due to a reduction of orders.
Unions are astonished by the decision as short-time working schemes were agreed few months previously in order to address the crisis. They aim at negotiating alternative solutions, which would allow the continuation of the activities.
Eurofound (2015), Monitor Elevator Solutions, Bankruptcy in Italy, factsheet number 91249, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91249.