Workers' buyout: the Italian experience, 1986-2016

Abstract

Workers' buyout (WBOs) are emerging during the present economic crisis as an alternative tool to maintain employment and production. In Italy, in the last thirty years, 258 cases have been recorded. What are their general characteristics? Why do WBOs develop and who are the main sponsors and financing tools? The present analysis aims at defining the phenomenon and the enabling environment. Moreover, primary sources collected from different actors will explain how WBOs have developed and thrived across Italy saving jobs and productive capacity.

Recovering solidarity? Work, struggle, and cooperation among Italian recovered enterprises

“…The number of WBOs has increased again with the decline that followed the 2008 financial crisis 6 . As Vieta and Depedri (2015, 228) note, “this decline … together with a long history of cooperation and the support mechanisms under the amended Marcora Law, has made Italy ‘ripe’ [for conversions] again, especially in the core manufacturing regions of ‘Made in Italy’” (see also Monni et al 2017, 531).…”

“…The regions with the highest numbers of cases over that period were Tuscany (21%) and Emilia‐Romagna (20%). Clusters of worker‐recovered companies can now be found in the provinces of Ancona, Florence, Modena, Perugia, Reggio Emilia, and Rome (see Monni et al 2017; Vieta, Depedri, and Carrano 2017). In the vast majority of cases, Italian recovered enterprises have been funded through the Marcora Law and thus represent instances of negotiated conversions.…”

“…The number of recovered enterprises in Italy positively correlates with the country's unemployment rate, with three periods of growth (1980–85, 1991–94, and 2007–14) and two of contraction (1986–90 and 1995–2006) (see Monni et al 2017, 534–35; Vieta and Depedri 2015, 227).…”

“…44 For an in‐depth discussion of this law, see Monni et al (2017) and Vieta, Depedri, and Carrano (2017). …”

Possibilities of Blitz-Psychograms as a tool for human resource management in the supporting system of hardiness of company

“…In this case, it is necessary to correctly connect his internal motivation, in time to form in him the desire to improve the qualification of the system of remuneration for skills, to make it clear that professional competencies are a value for the company, etc. (Lengnick-Hall, Rigsbee 2013;Huemann 2010;Monni et al 2017;Borisov et al 2018;Bogdanović et al 2018).…”