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.
Magneti Marelli faces a comprehensive crisis affecting approximately 1,600 workers across multiple Italian facilities, with the company filing for Chapter 11 bankruptcy protection in the United States. The automotive components manufacturer carries over €4 billion in debt while confronting operational challenges at key production sites.
The Venaria facilities near Turin represents the largest concentration of employment at risk from the bankruptcy proceedings. At Sulmona facility 444 employees work with 45% reduced hours while managing extreme summer heat through additional ten-minute breaks per shift until August 1. Despite these temporary measures introduced approximately one year ago, the site faces 147 planned redundancies by year-end, representing one-third of its current workforce.
Trade unions FIM, FIOM, UILM, FISMIC, UGLM, and AQCFR expressed concerns about supply chain disruptions and client relationships, especially with Stellantis as the primary Italian customer. At Sulmona specifically, unions have conducted facility assemblies to address worker concerns while emphasizing the need to "secure" the site to protect local employment. They stressed that future survival depends on securing new contracts or clarifying volumes for existing agreements across all affected facilities.
Minister for Enterprise and Made in Italy outlined three intervention approaches: moral suasion to maintain Stellantis contracts, encouraging potential acquirers to participate in the US restructuring procedure, and possible Golden Power application given the sector's strategic importance. The government indicated readiness to promote solid national industrial partners or consider state participation if necessary.
The debt restructuring aims to maintain operational continuity while protecting employment levels, though recent meetings between unions and management have sought solutions to minimize social impact without identifying definitive strategies. Unions announced plans for continued worker assemblies and potential strike action.
Eurofound (2025), Magneti Marelli, Internal restructuring in Italy, factsheet number 203109, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203109.