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.
A2A, an Italian utility company, is to cut 400 jobs (out of 11,800). According to the company, the job-cuts are due both to the negative effects of the economic crisis on the electric sector and to the ending processes of the merger between the former municipal companies of Milan (AEM and AMSA) and Brescia (ASM) that was formalised in 2008.
The company envisages economic incentives and early retirement programs for redundant workers. Moreover the company has provided the resource to Wage Guarantee Fund schemes on rotation basis for the workers employed in its power stations.
Update 23/05/2014: On 23 May, A2A and trade unions signed an agreement to reduce the number of proposed layoffs. According to the source, a maximum of 120 employees will take early retirement by December 2015. The source also reports that the remaining employees will continue to benefit from a wages guarantee and solidarity contracts and the company will support their relocation within the group. Additionally, the agreement will also see the company hire 30 graduates over the next two years.
Eurofound (2013), A2A, Internal restructuring in Italy, factsheet number 75063, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75063.