Finmeccanica SpA Announces Agreement Sealed with National Trade Unions on Selex ES Reorganization and Relaunch Plan

Finmeccanica SpA announced that the Top Management of Selex ES, a Finmeccanica company, met on June 27, 2013 with National Trade Unions and agreed on Selex's Reorganization and Relaunch Plan concerning 17,000 workers, distributed mainly between Italy and the UK. The implementation of the plan will involve 2,529 resources of which 1,938 in Italy, 810 employees will be put on voluntary redundancy schemes or redundancy incentives to be followed by 800 more in January 2014. Defensive job-security agreements will be introduced for the first time in Finmeccanica for 9,000 employees. To rationalize production sites in Italy, only 26 out of 48 will continue to be operational. The agreement is an essential part of Selex ES' restructuring plan, which is designed to consolidate and optimize Selex's industrial set-up, while at the same time making it a more competitive global player in its sector of reference by leveraging on its core technologies and skills, which are fit to face up to the international challenges in Defense Electronics and Security.