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.
In March 2006, the Italian Fiat group, announced the dismissal of 560 workers. The decision mainly affects white-collar employees who work in the plants located in Turin and who are placed on the Wage Guarantee Fund (Cassa integrazione guadagni), one of the 'social shock absorber' measures that cushion the effects of restructuring and redundancies, until 20 May 2006.
On 1 March, the company management and the unions reached an agreement to avoid the direct dismissals of these employees. The agreement provides the request to the government for an extension of the Wage Guarantee Fund, in order to avoid direct dismissals and allow for the activation of alternative measures such as the recourse to the 'short mobility' (mobilità corta) with a view to early retirement. These measures should include adequate initiatives for the outplacement and redeployment of redundant personnel jointly defined by the company management and the unions. The government has not accepted the parties request yet.
On 5 April, the government accepted the request to extend the Wage Guarantee Fund. After this decision, the company announced that 856 workers will be placed on Wage Guarantee Fund from 20 May to 31 December 2006. At the end of this period, 370 of these workers will reach all the necessary requisites to be eligible for the 'short mobility' with a view to early retirement.
At the end of September, the government announced the Finance Act, the legal instrument containing provisions on the make-up of the national budget. The law contains a legislative measure that provides for the allocation of a fund (EUR 200 million during three years) to finance the "long mobility" programme, a "social shock absorber" that support the incomes of redundant workers until they reach retirement age. This measure should concern 6,000 workers who work in companies in economic crisis or that announced a reorganisation plan which envisages job cuts.
The Fiat group will resort to the "long mobility" programme for the older workers among the 400 white-collar employees who work in the Fiat's offices located in Turin (Enti centrali) and who are placed on the "extra-ordinary" Wage Guarantee Fund until the end of 2006.
Eurofound (2006), Fiat, Internal restructuring in Italy, factsheet number 63122, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63122.
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