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.
Italian tour operator Valtur is to cut 105 jobs. As reported, in the framework of an insolvency procedure the company has enacted a mobility procedure for about 100 workers which are currently covered by Wages guarantee fund until December 2014.
Redundant workers were employed in the touristic villages in Capo Rizzuto (Crotone), Marileva (Trento), Pila (Aosta), Santo Stefano (Olbia), Sestriere (Torino), Pollina (Palermo) and at the Milan offices of the company. The Wages guarantee funds have been enacted in December 2013, when the sites were acquired by Orovacanze, that agreed to hire back at least 83 out of the 223 Valtur workers and that recently confirmed its unavailability to further increase its workforce due to its weak economic performance.
Trade unions asked for the activation of passive and active labour market policies to support redundant workers.
Eurofound (2014), Valtur, Bankruptcy in Italy, factsheet number 77701, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77701.