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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13.9 - Manufacture of other textiles
450 jobs Number of planned job losses
Announcement Date
25 November 2009
Employment effect (start)
Foreseen end date
30 November 2010
Description
It Holding, one of the leading players in the luxury goods sector, is to cut 450 jobs, out of 1,360. The job-cuts should affect the sites located at Bologna, Firenze, Isernia, Milano and Piacenza.
IT Holding controls a group of companies that design, produce and distribute several products, such as ready-to-wear and accessories, eyewear and perfumes, under owned brands, as well as under license agreements.
Since April 2009, the company has been admitted by the Minister of Economic Development to the ‘Extraordinary Administration procedure', i.e. a procedure provided by law for big corporation under financial distress.
Sources
26 November 2009: Il Sole 24 Ore
Citation
Eurofound (2009), It Holding, Internal restructuring in Italy, factsheet number 69951, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69951.
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