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.
Information / Communication Information Communication Services Telecommunications 61.1 - Wired Telecommunications Activities
1,300 - 1,800 jobs Number of planned job losses
Announcement Date
27 September 2024
Employment effect (start)
13 October 2024
Foreseen end date
28 February 2025
Description
Fibercop, a company specialising in fibre networks, has reached an agreement with major industry unions regarding a voluntary departure scheme for its workforce. The initiative aims to reduce staff numbers by up to 1,800, with a target of 1,300 employees.
This arrangement, developed in collaboration with social partners, offers voluntary exit options for employees meeting pension requirements, including early retirement provisions, up to 28 February 2030. Interested staff members have until 13 October to submit their applications, followed by individual consultations and responses from the relevant pension authority in December. The final departures are scheduled for late February 2025.
This workforce reduction aligns with the company's strategic growth plan, set to start in late 2024 or early 2025. The scheme aims to address two key objectives: lowering the average age of the workforce, which is currently one of the highest in the sector, and streamlining direct maintenance operations, which will require fewer in-house personnel.
Eurofound (2024), Fibercop, Internal restructuring in Italy, factsheet number 201689, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201689.
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