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.
Landi Renzo, an industrial group producing engines and car components, announced 148 dismissals at its plants of Cavriago (Reggio Emilia) (79) and Vicenza (69).
The dismissals are part of the 2018-2022 industrial plan, envisaging further 56 redundancies abroad.
The group explained redundancies follow the recent incorporation of electronic devices producer AEB, and the intention to delocalise the production of gas systems for vehicles from the Vicenza plant (managed by the subsidiary company Lovato Gas) to Poland, India and Iran.
Unions firmly oppose the decision and organised strikes. Workers also occupied the Vicenza plant.
Unions lament that the company is neglecting the positive economic performance of the Vicenza plant, pursuing short-term financial targets instead. Unions stated that seemingly the intention of the management is to replace a share of workers to be dismissed at Cavriago with external contractors.
Eurofound (2017), Landi Renzo, Offshoring/Delocalisation in Italy, factsheet number 92496, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92496.