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.
Pininfarina is one of the leading service companies within the automotive industry. The company operates also in the sectors of product and interior design and of extra-automotive means of transportation. It has 3,562 employees and facilities in Italy (2,043 workers), France (498), Germany (135), Sweden (857) and China (29). The group is headquartered in Turin.
On 11 December 2006, the company management and the trade unions reached an agreement on the company's reorganisation plan. The agreement provides for the recourse to the 'extraordinary' Wage Guarantee Fund (one of the 'social shock absorber' measures that cushions the effects of restructuring and redundancies). Workers will be under the Wage Guarantee Fund scheme starting from January 2007 and the scheme will cover a one-year period. The scheme will involve workers employed in the Pininfarina plants located in Italy and notably in Piedmont (Cambiano, Bairo, Grugliasco e San Giorgio Canavese). At the end of 2007, the 'mobility' procedures (ie the collective dismissal procedure) will lead to the dismissal of the 220 employees. All of these workers will achieve eligibility for retirement within the period covered by the mobility allowance (up to three years for workers older than 50 years).
Eurofound (2006), Pininfarina, Internal restructuring in Italy, factsheet number 64617, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64617.
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