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.
Fiditalia, a consumer credit bank, is to cut 166 jobs (out of 695) by the end of 2012. The reorganisation plan envisages the closure of 19 branches and 12 credit points in Italy. According to the company, the plan is due to the negative business and financial conditions which arose with the economic crisis. Fiditalia belongs to the group Société Générale.
On 16 June 2011, the company and the main sectoral trade unions reached an agreement that envisages 142 job-cuts rather than 166. The agreement provides for the recourse to the sectoral "solidarity fund" in order to guarantee an income support for the redundant workers.
Eurofound (2011), Fiditalia, Internal restructuring in Italy, factsheet number 71815, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71815.