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.
Manufacturer of pharmaceutical products Expanscience announced that it is to cut up to 119 jobs. The company justified this move by referring to a decision by the French government, which is expected to impact the sales of one of Expanscience's main drugs (Piasclédine 300) negatively.
The process of information and consultation on the voluntary departure plan is expected to be concluded by the end of September. The restructuring is met by heavy criticism from union side, as it is based on a ‘hypothetical' legislative change the French government has yet to approve.
Expanscience manufactures pharmaceutical products under the brand Mustela.
Eurofound (2012), Laboratoires Expanscience, Internal restructuring in France, factsheet number 74055, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74055.