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
142 jobs Number of planned job losses
Announcement Date
10 March 2011
Employment effect (start)
30 April 2011
Foreseen end date
31 December 2012
Description
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.
Sources
17 June 2011: Il Sole 24 Ore
11 March 2011: Il Sole 24 Ore
Citation
Eurofound (2011), Fiditalia, Internal restructuring in Italy, factsheet number 71815, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71815.
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