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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.20 - Manufacture Of Railway Locomotives And Rolling Stock
200 jobs Number of planned job losses
Announcement Date
14 November 2023
Employment effect (start)
14 March 2024
Foreseen end date
Description
Rail equipment manufacturer Alstom has announced the lay off of about 200 jobs positions in France. The job reductions are part of a worldwide restructuring plan which involves the elimination of 1,500 jobs in support services (10% of the workforce in these services).
The company is undergoing a significant cash flow crisis and is in urgent need of reassuring the investors. Specifically, the company is struggling with fulfilling the contract obligations inherited with the acquisition of Bombardier in 2021.
Job cuts will be made through voluntary redundancies, which should avoid outright redundancies. Further details will be provided at a European Works Council meeting on 14 December, prior to the launch of information and consultation procedures at national level. We are counting on three months of consultation before the first effects on employment, i.e. from 15 March 2024.
A previous large restructuring was recorded in the ERM Database in 2003 (FR-Alstom-2023) with 1,478 job losses. 8 smaller events were recorded since.
Eurofound (2023), Alstom, Internal restructuring in France, factsheet number 200523, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200523.
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