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.
Atahotels, Italian hotel chain controlled by Unipol SAI, is to dismiss 135 employees across eight luxury hotels and resorts in Milan, Rome, La Thuille (Aosta Valley) and Villasimius (Cagliari).
The company has been managing the hotels for 18 years by virtue of a rental contract with Enpam, the sectoral social fund of physician and dentists. As the rental contract is to expire in February 2016, negotiations were in place for its renewal between Atahotels, Enpam and Antirion, an investment fund which recently acquired the hotels.
However, at the beginning of February, the Atahotels' offer was rejected and negotiations ended abruptly. The company immediately opened a collective dismissal procedure for 135 employees at the affected sites, also indicating that the decision related to overall weak economic performance over recent years.
Antirion indicated it was intending to look for a new client, but it is not keen on providing guarantees for the redundant workers, with possibly the exception of those at La Thuille hotel.
The deadlock could imply further job losses in subcontracting companies, affecting another 300 workers in food service and cleaning activities.
The first meeting between unions and Atahotels to discuss possible alternatives to dismissals will take place on 8 February 2016. As new hires with open-ended contracts would benefit from temporary tax exemptions (i.e. social security contributions) and result in weaker protection towards dismissals, unions allege that the decision may actually camouflage an attempt to reduce direct and indirect labour costs.
Eurofound (2016), Atahotels, Closure in Italy, factsheet number 86462, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86462.