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.
Rieter, a world leading supplier to the textile and automotive industries, is to cut 130 jobs at its plant located at Santhià, in the province of Vercelli (out of 230 employees). The job-cuts process should be completed by the first half of 2010. The trade unions reacted to the company's decision by going out on strike. They are worried about the future of production's activities in the Santhià plant. Rieter comprises two divisions: Rieter Textile Systems, which produces machinery and systems for manufacturing yarns and nonwovens; Rieter Automotive Systems, which manufactures components, modules and total systems for acoustic comfort and thermal management in motor vehicles. The company has around 12,500 employees in 21 countries.
Eurofound (2009), Rieter, Internal restructuring in Italy, factsheet number 69763, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69763.