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.
Tollegno 1900 Group is a firm that manufactures yarns in pure and blended wool for knitwear, weaving and hand-knitting, and fine fabrics in pure wool and wool blended with precious fibres. The firm owns two plants, Filatura di Tollegno and Lanificio di Tollegno, employs around 1,200, and is regarded as one of the most important textile groups in the Biella district in Piedmont. On 23rd July 2007, the company announced a reorganisation plan that envisages investments in innovative technologies and in the production cycle, but also entails the loss of 100 jobs. The job-cuts are likely to affect the workers employed in the Filatura di Tollegno plant. The reason behind the firm's decision to make redundancies and to reorganise its yarns and textile production is due to the need to cope with the challenges connected with the internationalisation of markets and increased global competition.
Trade unions and the company are to meet in September to define suitable 'social shock absorbers' and other solutions for the outplacement and redeployment of the workers who could be potentially affected by the plan.
Eurofound (2007), Tollegno 1900 Group, Internal restructuring in Italy, factsheet number 65649, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65649.