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 28 November 2012, French telecommunications company SFR (Group Vivendi) has announced a substantial reorganization, which entails the loss of 856 jobs (8.5% of its workforce). The company will cut 1,123 jobs and will recruit 267 employees. The total of job cuts will reach 856. The management wants to avoid forced dismissals and each voluntary departure will be discussed within a bipartite commission with unions. The reorganization is a reaction to the arrival of a new competitor in the telecommunications market, Free (group Illiad). Negotiations with unions have started on December 2012 and job cuts are expected to be implemented in 2013. Vivendi's wireless division has frozen all new projects, recruitments and research to adapt to falling prices in the French market after Free has started its discounted service in January 2012. SFR had launched a voluntary departure plan in 2008 (see SFR-2008) and has recently announced redundancies (120 jobs) as part of this plan (see SFR-2012a).
Eurofound (2012), SFR, Internal restructuring in France, factsheet number 75332, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75332.