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.
US-based semiconductor manufacturer Micron Technologies is to cut 420 jobs in Italy (out of around 1,000). In particular, the job cuts will affect the sites located at Agrate Brianza, in the province of Monza and Brianza (223), Catania (128), Naples (53), and Avezzano, in the province of L’Aquila (17). The trade unions reacted to the company’s decision by announcing some protest actions. Reportedly, the restructuring is linked to the decision of the company to offshore some of its activities to the USA and Singapore.
Update, 10/04/2014: A draft agreement was reached between the multinational Micron and the coordination of trade unions in order to avoid the layoff of 419 workers. The agreement was signed on 10 April 2014, in the presence of the representatives of the Ministry of Economic Development, of the Regions and of the Presidency of the Council of Ministers. Meetings to inform workers are scheduled and next week the final ratification will take place at the Ministry of Labour. The agreement provides for a three-year restructuring plan and USD 20 million for investments and research activities in Agrate - Vimercate, Arzano, Avezzano, Catania and Padua. The advancement of the business plan will be monitored on a two-month basis. Up to 405 people will be put on an income support scheme (CIGS, extraordinary wages fund guarantee) for a year. 85 professionals who were made redundant will keep their jobs at their current sites. STMicroelectronics, a French-Italian multinational electronics and semiconductor manufacturer partly owned by the Italian government, has undertaken to employ 170 people during the income support year. Micron will offer opportunities of relocation to 102 people – 40 to other sites in Italy and 62 to sites abroad. Redundancy of 28 months’ salary will be given to employees leaving voluntarily by June 2014. Employees staying until the end of the year will receive redundancies on digressively proportional basis. The agreement provides also for training and requalification courses. The Regions will also be involved in order to promote active labour market policies and to foster industrial activities and projects.
Update, 20/07/2015: On 20 July an agreement was reached between Micron and trade unions to avoid direct dismissals after the expire of the CIGS. In fact, the actual implementation of the restructuring plan ended up with: 85 redundancies reabsorbed by Micron; about 60 workers internally relocated by Micron, especially abroad (Germany, UK, US); 174 hired by STMicroelectronics and 91 workers accepting incentives for voluntary dismissal. In May, the company opened a new mobility procedure for 12 workers as the number of workers taking part in the envisaged measures was slightly below the expectations. However, after consultations with unions, the remaining redundant employees were posted to a consortium created by Micron and STMicroelectronics.
Eurofound (2014), Micron Technologies, Internal restructuring in Italy, factsheet number 76457, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76457.
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