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.
Astigiana ammortizzatori Way Assalto produces suspension systems for car makers. It is located in Asti (Piedmont). In 1993, the company has been bought by the multinational ArvinMeritor, one of the global leader in the production of automotive components.
In 2005, ArvinMeritor announced the decision to sell its plant in Asti to an Italian entrepreneur. The new owner announced a reorganisation plan that envisaged the retainment of the total workforce (306 workers) with the recourse, for 125 employees, to the ‘special’ Wages Guarantee Fund (Cassa integrazione guadagni straordinaria, Cigs), a ‘social shock absorber’ that intervenes in cases of restructuring, reorganisation, change of activity or economic difficulties.
On 15 May 2007, the Astigiana ammortizzatori Way Assalto announced a new reorganisation plan: if, at the end of 2007, the company doesn’t obtain new orders to increase its production, it will cut around 150 jobs.
The trade unions and the local authorities planned some meetings with the company’s management in order to find ways both to avoid the redundancies envisaged by the plan and to support the company to find new orders.
At the end of October 2007, the company proposed to the trade unions an agreement that envisaged a further recourse to the ‘special’ Wages Guarantee Fund for 100 employees. At the expiry of the new period of this 'social shock absorber'– that will last one year – the company will start the collective dismissal procedures for the 100 employees.
The trade unions have rejected the company’s proposal, demanding again the involvement of the local authorities in order to find other measures to tackle the economic difficulties of the Way Assalto. Moreover, the trade unions announced several strikes for the next weeks.
On 31 October 2007, the company and the trade unions reached an agreement that envisages the loss of 40 jobs (instead of the 100 jobs previously announced by the company), the recourse for 120 workers to the 'special' Wages Guarantee Fund (the scheme will last one year), a new reorganisation plan and the establishment of periodical meetings between the company and the trade unions in order to check the implementation of the new plan.
Eurofound (2007), Astigiana ammortizzatori Way Assauto, Internal restructuring in Italy, factsheet number 65371, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65371.
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