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.
French smart card manufacturer Gemalto announced on 7 June 2007 its plans to cut 408 jobs -12% of its workforce in France-. The reason given by the company is the need to reduce costs due to a decline in the price of smart cards. Employee representatives have been informed of the restructuring project. The job cuts will affect all 362 workers at the site at Saint Cyr en Val near Orleans (Loiret), which is to shut down, as well as 46 employees in Meudon (Hauts de Seine). The site in Orleans is likely to close down by the second half of 2008 and production is expected to be transferred to other units of the company in France and Western Europe. Gemalto currently employs around 3,500 people in France.
The restructuring project in France aims to rationalise the manufacturing units making them more specialised. In order to optimise Gemalto's industrial capacity, the site in Pont Audemer (Normandie) will probably manage the production of SIM cards for Western Europe while the one in Gemenos would be in charge of French banking cards. The restructuring programme follows a worldwide cost reduction plan adopted by the company, formed a year ago as a result of the merger between Axalto and Gemplus. Gemalto announced an 11% decrease in turnover in the first quarter of 2007.
Eurofound (2007), Gemalto, Internal restructuring in France, factsheet number 65477, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65477.