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.
Telecommunication service provider Telecom Italia is to cut 170 jobs by the end of 2018. The job reductions are part of a recent and wider reorganisation plan, which has already entailed exits among middle management and clerks (please, see Telecom Italia-IT 2015).
The company intends to further reduce its operating costs by cutting top manager positions by about 26%. The plan was agreed with the union representing managers (Federmaneger) and entails incentives for self-entrepreneurship and early retirements.
The parties also agreed that exits will support a generational turn-over, to be achieved by means of staff promotions.
Sources
25 July 2016: Telecom Italia - press release
25 July 2016: Adnkronos
21 July 2016: Il Sole 24 Ore
Citation
Eurofound (2016), Telecom Italia, Internal restructuring in Italy, factsheet number 88830, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88830.
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