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.
Iris Ceramica, world leader manufacturer of ceramic floor and wall tiles, is to close with the loss of 770 jobs by the end of March 2009. According to the company, the closure is due to both the increasing global competition (the China production of ceramic has particularly increased in the last years) and the recent global financial crisis.
The trade unions reacted to the company's decision by going out on strike and blockading the factories' gates. They also involved the local authorities in order to avoid the closure of the company.
Iris Ceramica exports its ceramic products to over 100 countries, and it is one of the main companies of the Italian ceramic district located in the province of Modena.
Eurofound (2009), Iris Ceramica, Closure in Italy, factsheet number 67803, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67803.