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.
On 24 November 2010, global aviation technology company Thales announced to their Works Council that they intend to adjust the size of their French workforce in several areas, affecting up to 1,500 jobs.
Thales will open discussions with employee representatives and has said that it will give priority to voluntary departures and solutions that preserve the employability of Thales staff. Faced with a significant reduction in demand across its domestic markets and with a projected downturn in activity within certain sectors, Thales explained the need to find alternative sources of growth in its export markets. The group has adopted a plan to reduce costs by 1.3 billion Euros over the next five years. The workforce will be reduced in France by a total of 1,500 and this figure takes into account the recruitment already announced by company.
Thales warned it will probably have to reduce its workforce in other European countries in 2011, in particular the UK. At the same time the company's workforce will increase in emerging countries such as Brazil, India, and China.
Eurofound (2010), Thales, Internal restructuring in France, factsheet number 71215, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71215.
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