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.
As part of its Strategic Plan 2019-2024 approved by the Board of Directors on September 26, 2019, the banking company Banca Intermobiliare (BIM) announced its intention to dismiss 140 workers. Collective dismissal procedures started on September 27, 2019.
The decision is connected to the difficult economic situation BIM is experiencing for several years (in 2018, the bank counted losses for €158 million) and to the conditions posed by the majority shareholder, the fund Attestor, for a capital increase.
The trade unions defined the restructuring plan as socially irresponsible and said the union will fight for a plan with voluntary departures and early retirement, refusing alternatives such as tranforming employees' contracts into contracts for self-employed workers.
Banca Intermobiliare currently employs 423 workers.
Eurofound (2019), Banca Intermobiliare, Relocation in Italy, factsheet number 98792, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/98792.