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.
The French group Cheynet, a manufacturer of underwear, announced on 5 March 2007 that it will cut between 91 and 121 jobs between May and September 2007 in its two factories in Loire and Haute Loire. The decision responds to increased Asian competition. After negotiation with the work's council, the company may close down the site in Loire.
Cheynet and Fils, which employs 500 people, announced that it will respect the law on the cases of restructuring. The company will negotiate a working time agreement (Réduction du temps de travail, RTT) to cut down the working time for all employees from 39 to 36.5 hours per week. If the company signs the agreement with the trade unions, the number of job cuts could be 95 instead of 121.
Eurofound (2007), Cheynet & Fils, Internal restructuring in France, factsheet number 65044, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65044.