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.
Vodafone Italy, a company operating in the telecommunications sector in Italy, has announced to trade unions that it will proceed with the dismissal of 1,003 employees during 2023. Of the total layoffs, about half will concern the Customer Care sector.
The decision was made following a corporate desire to reduce costs, also due to an economic contraction in the telecommunications sector, especially in Italy.
The decision has been poorly received by trade union organisations, which have complained about the choice to resort to layoffs to address the issue and that this would also lead to a loss of know-how.
Update 15/06/2023
An initial consensus regarding the potential layoff of 1,000 employees has been found between Vodafone Italia and telecommunications unions. This plan seeks to curtail social repercussions by endorsing early retirement plans, workforce re-skilling, and women's pre-retirement alternatives. The company plans to train 300 employees for the next two years to support its transformative efforts. Further, they will provide incentives to facilitate voluntary job transitions, which include an extension of the corporate health coverage. A solidarity contract, which reduces monthly working hours and supplements employee training, will be utilized, with a duration of 12 months, potentially extendable by another half a year with the agreement of trade unions.
For these reasons, the net effect of the exits is 700, given by the difference between the expected total of 1000 voluntary exits and the expected 300 entries as a result of the training carried out by the company.
Eurofound (2023), Vodafone Italia, Internal restructuring in Italy, factsheet number 108649, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108649.
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