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.
The cotton mill company Cotonificio Honneger is to cut 240 jobs at its plant located at Albino, in the province of Bergamo. The company has 453 employees at Albino. According to the company, the decision to reduce its workforce is mainly due to the economic crisis and the increasing global competition. The plant at Albino produces cotton yarns.
The trade unions reacted to the company’s decision by going on strike and trying to involve the national and local authorities in order to find adequate measures to cope with the economic crisis that is affecting a lot of Italian companies which operate in the textile sector.
The authorities had previously applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2008), Cotonoficio Honneger, Internal restructuring in Italy, factsheet number 67514, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67514.