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.
IRCI is the Italian subsidiary of the US multinational company International Rectifier Corporation and employs 477 in two plants, both located in Piedmont (Venaria and Borgaro). At the end of 2003, the company management announced a further employment cut after that implemented in spring 2003, which involved some 150 people, who are now covered by the special wages guarantee fund. The new reduction will affect 105 workers of the Venaria plant, mainly white-collar employees (90 people) and some managers (15 people). By this reduction, employment at the Venaria plant should be reduced down to some 30 workers from a former level of about 250. The production of the Venaria plant is supposed to be relocated in Latvia.
Eurofound (2004), International Rectifier, Offshoring/Delocalisation in Italy, factsheet number 59715, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59715.