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 management of FCI, the components manufacturer, has announced the closure of the site at La Ferté-Bernard (Sarthe), which employs 269 persons, and the restructuring of the site at Besançon (Doubs), where some 90 jobs could be lost.
The announcement, which came during an extraordinary session of the works council, follows about three years after the acquisition of FCI by the American investment funds Bain Capital, which had promised to maintain the European sites during at least three years.
The unions state that since 2005 (when Bain Capital bought out FCI) "no investment was realized, and no hiring was made".
Now, the sites are no longer profitable, and have to face harsh difficulties such as the telecommunication crisis, the relocating of the market to China, and the rise of raw materiel prices. As regards the 90 jobs that could be lost at Besançon, the management may propose placement opportunities not onlyin France but also in Asia (India and China). This is seen, by union representatives as provocative.
Eurofound (2008), Framatome Connectors International (FCI), Closure in France, factsheet number 66676, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66676.
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