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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.9 - Other financial service activities, except insurance and pension funding
125 jobs Number of planned job losses
Announcement Date
4 February 2010
Employment effect (start)
30 April 2010
Foreseen end date
Description
CartaSi, the Italy's largest card issuing and acquiring business, is to cut 125 jobs, out of 1,800. The job-cuts are a consequence of the acquisition of CartaSi by the Istituto Centrale delle Banche Popolari Italiane (Icbpi). The corporate merger was defined in June 2009. For the redundant workers the banking institute provides economic incentives and the recourse to the "solidarity fund", that is a sort of special Wages Guarantee Fund in the Italian banking sector.
Sources
5 February 2010: Il Sole 24 Ore
Citation
Eurofound (2010), CartaSi, Merger/Acquisition in Italy, factsheet number 70320, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70320.
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