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.
Teuco, an Italian manufacturer of bathroom products, announced its decision to dismiss 108 workers at the site in Montelupone (Macerata), out of a total of 194 employees.
The company attributed the decision to negative market trends, also due to the contraction of building activities in Italy.
The decision was harshly criticised by unions. The company had recently agreed with unions 50 redundancies on a voluntary basis and announced the intention to extend by one year the short-time working allowance covering employees of the site, which is due to expire in December 2016.
According to the unions, this step back is caused also by new rules introduced by the Jobs Act (latest labour market reform in Italy), which increased the costs of social shock absorbers in case of temporary layoffs. Workers will gather in assembly over the next days to plan industrial actions.
For a previous restructuring announced by Teuco see Teuco GuzziniIT-2012.
Eurofound (2016), Teuco, Internal restructuring in Italy, factsheet number 89071, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89071.