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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65.12 - Non-life insurance
200 jobs Number of planned job losses
Announcement Date
10 June 2016
Employment effect (start)
24 August 2016
Foreseen end date
Description
Italian division of UK online insurance provider Direct Line is to dismiss 200 workers out of a total workforce of 800 at its site of Cologno Monzese (Milan).
The company decided to carry out a reorganisation process due to a sharp decline in sales. In addition to the job cuts, the reorganisation involves the immediate discontinuation of company-level agreements currently providing benefits and wage bonuses. The site, which manages insurance policies and provides customer services, employs mainly young and female workers.
The unions termed the decision as 'unacceptable', complaining about the absence of an industrial plan, and announced a 40-hour strike.
Sources
13 June 2016: Affaritaliani.it
14 June 2016: Il Giorno
Citation
Eurofound (2016), Direct Line, Internal restructuring in Italy, factsheet number 88018, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88018.
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