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.
The television broadcasting company Sky Italia, Italian subsidiary of the UK-based Sky Group, presented a redundancy plan to the unions entailing 2,500 to 3,000 jobs cut. The company claimed that the entire broadcaster sector is experiencing a transformation to adapt to the digitisation and the diffusion of streaming platforms.
The restructuring is planned over a four-year period and will take place on a voluntary basis and without resorting to direct dismissals. The plan foresees overall savings amounting to around €300 million.
Currently, the company employs 5,000 direct workers and further 6,000 indirect ones.
Updated, 15/07/2021: An agreement has been reached between the company and the trade unions, significantly reducing the number of exits. According to the agreement, the transformation plan will affect 153 people for the remaining six months of 2021 and a total of 501 people for 2022. As part of the agreement, the company also committed not to take unilateral actions.
Eurofound (2021), Sky Italia, Internal restructuring in Italy, factsheet number 104605, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/104605.
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