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.
After almost three months of negotiations, the metal company Permasteelisa reached an agreement with the trade unions on a plan for internal restructuring entailing 134 workers job cuts.
Negotiations started on 18 November, when the company announced its willingness to reduce its workforce, currently composed of 700 employees, by 150 (131 vemployees and 19 workers). The reasons behind the restructuring are changes in the constructions market which are more and more oriented towards basic building facades rather than highly customised which is the company's niche. Recent COVID-19 impacts on the sector are also part of the decision.
On 3 February, 94% of the company's workers voted positively for the agreement, which was reached after several strike initiatives. The agreement foresees that exits will take place only on a voluntary basis and it will be supported by economic incentives.
Eurofound (2020), Permasteelisa, Internal restructuring in Italy, factsheet number 103532, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103532.