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 Natuzzi group, one of the world's leading designers and manufacturers of upholstered furniture, is to cut 1,540 jobs. At the end of March, the company has announced a new reorganisation plan, which envisages 1,540 job-cuts at the Matera, Bari and Taranto plants. According to the company, the reduction is necessary in order to tackle the recent economic crisis and the consequent drop in demand.
The trade unions reacted to the company's decision by going on an eight-hour strike on the 9 of April and demanding local and national authorities to take adequate measures to relaunch the Italian sofa industry that has been in crisis for several years.
The Natuzzi group is one of the world leading manufactures of upholstered furniture. The company's plants are concentrated in Southern Italy, between the Puglia and the Basilicata regions. The company exports 90% of its production to 135 countries, employs around 3,800 workers in Italy and around 3,000 workers in China, Brazil and Romania.
Eurofound (2009), Natuzzi, Internal restructuring in Italy, factsheet number 68682, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68682.