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.
Linificio e Canapificio Nazionale, a firm that operates in the linen yarn industry, is to cut 165 jobs in Bergamo at its Fara Gera d’Adda and Villa d’Almè sites. 35 of 55 workers will be dismissed from the Fara Gera d’Adda site, whilst 130 of 200 employees will be dismissed from the Villa d’Almè plant. The job losses were set out in a re-organization plan announced by the firm on 2nd October 2007, and the job losses are due to be implemented by the end of November 2007. The firm attributes the decision to the need to cut costs in the face of rising competition from Chinese firms. Italian trade unions have reacted to the firm’s plans by announcing several strikes towards the end of October 2007.
Linificio e Canapificio Nazionale is one of the world leaders in the linen yarn industry. It operates in Italy, Tunisia, and Lithuania, and has a total workforce of 1,193 in these locations. The firm is a part of the Marzotto Group, an European leader in the textiles industry.
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Eurofound (2007), Linificio e Canapificio Nazionale, Internal restructuring in Italy, factsheet number 65910, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65910.