Grass Valley

Type
Internal restructuring
Country
France
Region
Location of affected unit(s)
Rennes, Conflans-Sainte-Honorine, Brest
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
329 jobs
Number of planned job losses
Job loss
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.

Sources

Citation

Eurofound (2010), Grass Valley, Internal restructuring in France, factsheet number 70378, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70378.