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.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Motion Picture, Video And Television Programme Production, Sound Recording And Music Publishing Activities 59 - Motion picture, video and television programme production, sound recording and music publishing activities
800 - 1,350 jobs Number of planned job losses
Announcement Date
16 October 2003
Employment effect (start)
Foreseen end date
Description
Universal Music, subsidiary of Vivendi Universal, announced a restructuring plan affecting at least 800 workers world-wide. The measure is linked with the loss of EUR 42 billion for the first quarter of 2003 and with the drop in the sale price of the Compact Disc. To date, 7 jobs have yet been dismissed in Belgium.
Sources
16 October 2003: Les Echos
17 October 2003: Les Echos
Citation
Eurofound (2003), Universal Music, Internal restructuring in World, factsheet number 59451, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59451.
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