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 Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
329 jobs Number of planned job losses
Announcement Date
31 March 2010
Employment effect (start)
31 March 2010
Foreseen end date
Description
Broadcast technology producer Grass Valley announced plans to cut 329 jobs in France as part of major worldwide cuts. The subsidiary of French firm Technicolor (more commonly known under its former name of Thomson) is to cut a quarter of its global workforce. The group blamed a 30% decline in its market for a smilarly dramatic decrease in its turnover in 2009. The parent company's failure to sell Grass Valley having been seeking to offload it since January has also hit its fortunes. Technicolor hope to find a buyer for Grass Valley once the restructuring is complete.
Eurofound (2010), Grass Valley, Internal restructuring in France, factsheet number 70378, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70378.
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