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.
Giorgio Armani, one of Italy's primary fashion companies, is to cut 120-130 jobs (out of 300 employees) in its plant located at Settimo Torinese, in the province of Turin.
The company has planned to reorganise the productive plant in a plant which creates only clothing prototypes. The trade unions reacted to the company's decision by going out on strike. They worry that the next step could be the closure of the plant.
The Giorgio Armani company designs and manufactures products in several categories including fashion accessories, apparel, cosmetics, fragrances, home interiors, jewellery, eyewear and watches.
The authorities had previously applied for aid from the European Globalisation Adjustment Fund (EGF) to help workers in Piemonte.
Eurofound (2009), Armani, Internal restructuring in Italy, factsheet number 69197, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69197.