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.
Fiamm, a leading manufacturer of automotive components and industrial batteries, is to create 140 jobs by the end of 2012. The company and the trade unions reached an agreement that envisages EUR 45 million of investments in order to improve the productive activities at the Vicenza and Avezzano plants (in the province of L'Aquila).
The new industrial plan provides for 140 new jobs, of which 110 at the Avezzano plant (220 employees), and 30 at the Vicenza plant (155 employees). Moreover, the plan envisages a reduction of the labour's costs (around -20%), with the introduction in the company-level agreement of new variable components of pay, mainly linked to productivity, and, at the same time, the suppression of some fixed allowances, included in the previous company level agreement.
Fiamm is world leader in the market of acoustic signals. It operates in sixty countries, with around 3,000 employees worldwide.
Eurofound (2009), Fiamm, Business expansion in Italy, factsheet number 69434, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69434.