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.
On 15 November 2017, American turbo-diesel producer Honeywell announced the decision to close its Atessa plant (near Chieti) and dismiss all 420 employees. According to the management, the decision is attributed to overcapacity and lack of competitiveness. The production will be moved to Slovakia, where a twin plant has been recently built.
Local politicians have expressed deep concern for this decition, since Honeywell is currently one of the biggest employers in the Val di Sangro manufacturing district.
Trade unions vehemently oppose the decision and are organising initiatives to protest.
Update, 07/06/2018: The seven-month negotiations at the Ministry of Economic Development ended with the announcement that it would not be possible for the company to resort to shock absorbers (CIGO). Honeywell has sent dismissal letters to the 300 workers currently employed in Atessa.
Eurofound (2017), Honeywell, Offshoring/Delocalisation in Italy, factsheet number 94301, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94301.