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 banking group Banca Carige announced the dismissal of about 400 employees by the end of 2020.
The company is implementing a large restructuring plan aimed at strengthening its capital base. The plan also entails the closure of about 120 branches and the disposal of assets, including the group’s consumer credit company Creditis.
The redundancies add up to those initially announced in the 2017-2020 industrial plan for a total number of about 1,000 exits between 2017 and 2020 (see Banca CarigeIT-2016).
Unions oppose the plan and are holding assemblies. They also call for the implementation of the dismissals on a voluntary basis.
Eurofound (2017), Banca Carige, Internal restructuring in Italy, factsheet number 92279, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92279.