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.
Fnac, the French retailer of cultural and consumer electronics products, announced on 24 April 2007 a restructuring plan that will lead to the loss of 300 administrative jobs in France between May 2007 and June 2008. On average, four or five jobs will be cut at each of Fnac's 73 stores across the country. The CEO of the company announced that it intends to modernise and centralise its administrative services. About 100 administrative staff will be redeployed in the company's stores and a further 30 at a site in Paris (Massy in the Essonne department). The plan affects staff across all FNAC stores, which currently employ about 8,000 people in France. Employee representatives reacted immediately by calling a strike on 4 May 2007. At the same time, the company's management said it is planning to create 3,000 jobs over the next years due to the opening of several new shops.
Eurofound (2007), FNAC, Internal restructuring in France, factsheet number 65277, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65277.