Ideal Standard Workers Protest
Retrieved on:
Thursday, April 22, 2021
Public policy, Government, Retail, State, Local, Chemicals, Plastics, Home Goods, Manufacturing, Other Manufacturing, Trade unions, European Trade Union Confederation, International Trade Union Confederation, Trade Union Advisory Committee to the OECD, Italian General Confederation of Labour, Federations, Organizations
b'Today Ideal Standard\xe2\x80\x99s (Italia) employees joined by the three major Italian Union Organizations - Filctem Cgil, Femca Cisl, Uiltec Uil \xe2\x80\x93 have executed a protest rally during the event \xe2\x80\x9cTogether World Tour\xe2\x80\x9d produced by the Company.
Key Points:
- b'Today Ideal Standard\xe2\x80\x99s (Italia) employees joined by the three major Italian Union Organizations - Filctem Cgil, Femca Cisl, Uiltec Uil \xe2\x80\x93 have executed a protest rally during the event \xe2\x80\x9cTogether World Tour\xe2\x80\x9d produced by the Company.
- The event also included the participation of several prominent Italian industrial designers and architects such as Palomba Serafini, to whom the Union organizations are asking to push the envelope in recognizing the extraordinary Italian know-how applied not just in the design process but also for the manufacturing sector, and to avoid collaborations and outsourcing in low grade and overall poor labor conditions Countries.\nLocated in Northern Italy, Ideal Standard (Italia) is a company operating in the Kitchen and Bath products design and manufacturing sector as one of the excellence of Italy.
- Since years, the company has been subjected to a variety of acquisitions executed by several international private funds currently leads by the Australian-based Anchorage Capital and the British CVC Funds.\nThe Company is now facing a financial crisis not derived by its ability to perform and be always at the cutting edge of its industry, but because of the too often reckless financial technique well known under the definition of \xe2\x80\x9cLeveraged Buyout\xe2\x80\x9d.
- The assets of the company being acquired are often used as collateral for the loans, along with the assets of the acquiring company.