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.
Flight operator Meridiana announced the creation of 1,500 new jobs in Italy by 2020. The company, which has undergone a long crisis period (see MeridianaIT-2014) has been acquired for a 49% share by Qatar Airways. This took place after a long negotiation, entailing job cuts in Meridiana staff as well (see Meridiana flyIT-2016). The new management plans to increase the fleet and the headcount with a view to operating domestic and international flights on routes weakly covered by other competitors. Meridiana, that will use the ‘Air Italy’ brand on its flights, will operate Milan as hub. A share ownership scheme will also be introduced, entitling employees to an overall 20% share of profits. Unions assessed the plan positively, though they remarked it entails few commitments for routes operating from Sardinia, representing the core business of the company until now.
Eurofound (2018), Meridiana, Business expansion in Italy, factsheet number 93395, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93395.