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.
Italian steel manufacturer Acciai Speciali Terni (AST), owned by German group ThyssenKrupp, confirmed 537 job losses. The dismissals were part of the industrial plan presented in July 2014 and came on top of the 150 redundancies agreed in 2013. A mobility procedure had already been initiated in July 2014 but the Government managed to freeze it for a month in order to negotiate a mediation plan.
On 1 October, AST proposed a 20pc wage reduction and a job reduction measure affecting 290 jobs, but the trade unions rejected the plan. As reported, the negotiations failed and the company decided to reopen a dismissal procedure for 537 workers of the group and to put in place incentives for voluntary departures. According to the plan, the planned redundancies would affect 413 blue-collar workers and 124 executives and white-collar workers.
Trade unions and workers went on strikes to protest against the job cuts. According to media sources, citizens and workers of subcontracting firms joined also the protests. These workers also risk losing their job as subcontractors are requested to accept a reduction by 20pc of the value of their contracts or cease their services.
Updated, 17 December 2014: Negotiations between the government, the management and trade unions were concluded. The company will provide incentives for 290 voluntary departures and will not ask any further activation of the wage guarantee fund.
Strikes were stopped after 36 days. Nearly 80% of the workers approved the agreement.
Eurofound (2014), Acciai Speciali Terni (AST), Internal restructuring in Italy, factsheet number 77690, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77690.
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