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.
Fincantieri, an Italian shipbuilding group, is to cut 330 jobs at the shipyard of Sestri Ponente (in the province of Genoa), which employs 740 workers.
After some months of negotiations, the company and the trade unions, with the support of the Ministry of Economic Development, reached an agreement on the 2012-14 industrial plan for the Sestri Ponente shipyard. The agreement envisages that the 330 job cuts will be carried out on a voluntary basis.
In particular, the agreement envisages the recourse to the extraordinary Wage Guarantee Fund (WGF) for two years, mobility allowances at the end of the WGF scheme and economic incentives for voluntary dismissals. Moreover, the redundant workers will be given access to training and outplacement services.
This follows restructuring at other Italian shipyards. In December Fincantieri had announced to cut 140 jobs at the shipyard of Palermo (see here).
Eurofound (2012), Fincantieri, Internal restructuring in Italy, factsheet number 73147, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73147.