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De Agostini Editore S.p.A.: Negotiations concluded between the company and union representatives on the reorganisation plan for some companies

Novara, 23 April 2009. The negotiations between De Agostini S.p.A. and union organisations for the corporate reorganisation plan relating to the companies of De Agostini Editore S.p.A., Istituto Geografico De Agostini S.p.A., De Agostini Diffusione del Libro S.p.A. and UTET S.p.A, that commenced on 12 February, came to an end last night at the Ministry of Labour, Health and Social Policies in Rome.

Negotiations closed when an agreement was reached following discussions conducted in a constructive and co-operative spirit by all representatives around the negotiating table.

The plan had become essential to enable the company to redefine its presence in the market and improve the performance of the areas most heavily affected by the current crisis in the publishing sector.

The agreement calls for a reorganisation that will reduce the headcount by a total of 210 employees broken down as follows:

  • De Agostini Editore S.p.A.: 94 employees
  • Istituto Geografico De Agostini S.p.A.: 37 employees
  • De Agostini Diffusione del Libro S.p.A.: 29 employees
  • UTET S.p.A.: 50 employees

In order to minimise the social impact of the plan, the signed agreement calls for the implementation of the following measures: redundancy payments for 24 months starting 4 May 2009; early retirement for those entitled by 30 April 2011; voluntary layoffs pursuant to Law 223/91 with the company paying redundancy incentives and providing outplacement services upon request to help individuals find new employment; training and professional retraining courses with the collaboration of regional and provincial agencies aimed at assisting with the re-employment of staff.

The agreement was signed by the company, the National and Regional Secretariats of SLC-CGIL, FISTel-CISL, UILCOM-UIL and by union representatives of the companies involved.

Negotiations were concluded and an agreement reached thanks to the efforts of the counterparties to pursue all possible agreements and find the best tools for improving the performance of, and relaunching the business areas affected by the reorganisation.

At the conclusion of negotiations, Stefano Di Bella, Chief Executive Officer of De Agostini Editore S.p.A. said, "We are pleased that we have reached an agreement, and we believe that the reorganisation of certain business areas will generate the operating efficiencies necessary to overcome the current crisis and advance our recovery in the publishing market." He also confirmed that "no historical brand will disappear; we will continue to operate as publishers, as we have done for over a hundred years, keeping pace with market changes."

Pietro Boroli, Chairman of De Agostini Editore S.p.A., also expressed satisfaction "with the successful outcome of negotiations and the ongoing and uninterrupted dialogue between the parties throughout the entire duration of these long, complex negotiations."


For information contact:

Elena Dalle Rive

Media Relations De Agostini S.p.A.

T + 39 02 62499592 - F + 39 02 62499553

Cell. 335 7835912

e-mail: elena.dallerive@deagostini.it


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