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.
Valeo is an industrial group focused on the design, production and sale of components, systems and modules for cars and trucks, both on the original equipment market and the after-sale market. The group has 130 production sites in 26 countries, and it employs 70,400 people.
In Italy, the French industrial group has two research and development centres and nine production plants, which focus their activities on the construction of electronics and connective systems, switches and detection systems, engine cooling, transmission, climate control, security and lighting systems. Valeo has more than 2,000 employees in the whole country.
In November, the company announced a reorganisation plan in its two plants located at Felizzano, in the province of Alessandria (Piedmont). The plants produce electronic and connective systems for cars and trucks and have a total workforce of 350 people.
Since 2001, the group has reduced the workforce in Felizzano industrial sites from around 1,200 to 350 as a result of the crisis that has affected the main European car-makers. The recent reorganisation plan envisages the loss of 100 jobs.
The trade unions aim to bring into the dispute local and national organisations and institutions, in order to reduce the social effects of the redundancies envisaged by the restructuring plan and to find ways to get rid of the negative impacts of lay-offs on the local network of small and medium firms that, in recent years, emerged and developed around the plant of the French multinational company.
Eurofound (2006), Valeo, Internal restructuring in Italy, factsheet number 64471, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64471.
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