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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
190 - 500 jobs Number of planned job losses
Announcement Date
22 March 2003
Employment effect (start)
Foreseen end date
Description
Zincocelere is undergoing a bankruptcy procedure. There is an acquisition proposal by the CST group, which is an important manufacturer of electronical components. The possible buyer is now negotiating with the unions the details of the new industrial plan, which should include a reduction of some 190 employees, new working time schedules and cuts in collective company-level pay. In fact, the former firm will have to be closed down formally; the buyer will take on the assets and hire part of the workforce. In this way, all the collective agreements which covered the firm which has gone bankrupt will be discontinued and new agreements will have to be negotiated.
Sources
23 March 2004: La Stampa
31 March 2004: La Stampa
Citation
Eurofound (2003), Zincocelere, Bankruptcy in Italy, factsheet number 59064, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59064.
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