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 Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
93 - 100 jobs Number of planned job losses
Announcement Date
7 December 2006
Employment effect (start)
1 January 2007
Foreseen end date
28 February 2007
Description
French car components manufacturer Cignet Electronics SAS, owned by the American holding company Combined Industrial Group Network (Cignet), will cut between 93 and 100 jobs out of 192 employees in its Jarville plant (Meurthe et Moselle) between January and February 2007. The cuts are part of a plan to reorganise the factory, as it was announced on 7 December 2006. The decision is due to a continuing fall in sales, which could not be offset by refocusing on remanufacturing of spare parts. Cignet Electronics may pay between 10,000 and 20,000 euro in compensation to each of the dismissed workers depending on their seniority in the factory. The annual revenue of the Jarville unit fell from 40 million euro in 2004 to some 25 million euro (expected) in 2006.
Cignet Electronics was founded in September 2003, when Cignet acquired the Jarville plant from car parts manufacturer Siemens VDO France, a unit of German conglomerate Siemens AG.
Sources
11 December 2006: Les Echos
Citation
Eurofound (2006), Cignet Electronics SAS, Internal restructuring in France, factsheet number 64578, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64578.
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