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.
Telecom Italia, Italy's leading telecommunications company, is to cut 5,000 jobs. On 4 June 2008, Franco Bernabè, CEO of Telecom Italia, has announced the reorganisation plan 2008-2010 that envisages a broad reorganisation of the business areas, with a relevant reduction of the operative costs. In particular, the plan provides for the loss of 5,000 jobs by the end of 2010.
The trade unions reacted to the company’s decision announcing several industrial actions in order to find ways to avoid the redundancies envisaged by the plan. On 19 September 2008, Telecom Italia and the sectoral trade unions reached an agreement on the redundancies included in the 2008-2010 reorganisation plan. The agreement envisages that the collective dismissals procedures will start by the end of 2010. The redundant workers will benefit by a “mobility” programme with a view to early retirement. The “mobility” allowance will be increased until the 90% of the last salary received by the redundant workers. In Italy, Telecom has around 64,000 employees.
Eurofound (2008), Telecom Italia, Internal restructuring in Italy, factsheet number 66701, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66701.
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