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.
Pavimental, an Italian company operating in maintenance and construction of roads, is to cut 335 out of 650 jobs in Italy. 175 cuts will affect employees and construction workers, and 160 infrastructure workers will see their contracts terminated.
According to the company, the job cuts are due to a drop in investments and the decline of the construction industry. The trade unions reacted to the company’s decision by calling a 16-hour strike and demanding to meet the management in order to discuss alternative measures to the lay-offs. The local authorities have also expressed their worry that the restructuring will affect the quality of the roads.
Pavimental belongs to the Autostrade per l’Italia group, a European Concessionaire for toll motorway construction, management and related transport services. Autostrade per l’Italia is owned 100% by shareholding Atlantia.
Eurofound (2012), Pavimental, Internal restructuring in Italy, factsheet number 74496, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74496.