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.
Banca Popolare di Milano (Bpm), one of the main Italian banks, is to cut 400 jobs in the period 2009-2011. The bank has announced a reorganisation plan in order to tackle the recent economic crisis that is mainly affecting the banking sector.
The bank and the trade unions have planned some meetings in order to define the recourse to the 'solidarity fund'. This fund was created in 1998 by the social partners of the banking sector and has introduced a sort of special Wages Guarantee Fund in the sector. The redundant workers could access the 'solidarity fund' on voluntary basis. At the end of 2007, the Bpm had 8,590 employees.
Eurofound (2008), Banca Popolare di Milano, Internal restructuring in Italy, factsheet number 67718, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67718.