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.
The luxury hotel Lutetia in Paris announced to cut its workforce by 211 by April 2014. This results from the decision to close the hotel for three years during comprehensive renovation works to upgrade the hotel facilities.
All staff are reported to having the chance to return to work after the renovation period. The social plan proposed by the management includes the offer to pay a 12% of gross salaries during the lay-off.
Unions have organized strikes and asked the group to fully maintain the job positions during renovations.
Eurofound (2013), Lutetia Hotel, Closure in France, factsheet number 76035, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76035.