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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.92 - Manufacture of machinery for mining, quarrying and construction
200 jobs Number of planned job losses
Announcement Date
26 April 2015
Employment effect (start)
6 July 2015
Foreseen end date
7 July 2015
Description
US-based supplier of oil an gas equipment Smith International is to close the plant in Volterra (Tuscany) specialised in the manufacturing of oil well drilling bits. The closure will result in the loss of 200 jobs. The move is blamed on decline in demand for the company's products as the oil drilling industry remains weak.
The unions have opposed the decision and demanded to meet with institutions with a view to prompting the company to reconsider the closure and rather invest in innovation. Local institutions also joined the request of unions and initiated negotiations to avoid further job losses in an area with low employment rates.
Sources
27 April 2015: La Repubblica
1 May 2015: Il Sole 24 Ore
5 May 2015: PisaToday
5 May 2015: Il Tirreno
Citation
Eurofound (2015), Smith International Italia , Closure in Italy, factsheet number 83593, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83593.
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