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.
Safilo, one of the world leaders in the eyewear sector, is to cut 680 jobs. The company has announced the closure of its plant located at Precenico, with the consequent loss of 230 jobs, and a reorganisation plan for its plant located at Martignacco, with the consequent loss of 450 jobs (out of 610 employees). Both the plants are in the province of Udine. According to the company, the reorganisation plan is mainly due to the relevant drop in sales (-3% in 2008; -15% in the first trimester of 2009). The trade unions reacted to the company's decision by announcing a four-hours strike in all the Italian Safilo plants. Moreover, in order to avoid the job-cuts, they suggested the recourse to the 'job-security agreements', which permit a reduction of working hours (daily, weekly or monthly) when the enterprise's production decreases. Four of Safilo's manufacturing plants are in Italy, one in Slovenia and one in the United States. In Italy, it has around 4,000 employees.
Updated, 21-07-2014: Following negotiations, on 15 June 2012, Safilo and the trade unions announced a reduction in layoffs (falling from 1,000 to 670) and the recourse to a job-security agreement in order to avoid job-cuts. On 9 July 2014, the company declared its intention not to renew the job-security agreement. However, on 21 July, Safilo and trade unions signed an agreement in order to reduce layoffs impact. Consequently, the number of redundancies will fall from 670 to 100. Dismissals will be on a voluntary basis.
Eurofound (2009), Safilo, Internal restructuring in Italy, factsheet number 68599, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68599.
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