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.
Due to the COVID-19 crisis, Safran seats has announced the elimination of the jobs of 250 temporary workers, generally hired for periods of at least six months. The sales of this aeronautical equipment manufacturer that makes aircraft seats (which used to belong to Zodiac and was bought out by Safran) fell by 60% from March to May. Safran Seats is also facing order cancellations linked to the shutdown of the Airbus A380. Management is forecasting a 35% drop in the figure in 2020 and no return before 2023-2024 to the 2019 level. Of the nearly 1,300 employees at the site, 600 are currently working at the Issoudun site, 350 are teleworking and 350 are still on short-time working. In addition to the temporary workers, 150 workers engaged with service providers have also been dismissed.
A previous announcement was recorded in 2016 with 150 job creations before the site was bought by Safran.
Eurofound (2020), Safran Seats, Internal restructuring in France, factsheet number 100792, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100792.
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