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.
Arcole Industries is to take over freight transport and express services company Mory Ducros, where 2,850 jobs will be cut. This plan was approved by Pontoise commercial court. After the takeover, a mere 2,210 of 5,000 staff and 50 of 85 agencies at Mory Ducros’ will be remaining.
Arcole Industries has signed an agreement with unions on the social impact of its takeover after a few weeks of negotiations. The group increased its previous budget to finance the social plan from EUR 21 to 30 million.
Additionally, the government has launched an exceptional device to help dismissed employees, starting by the end of February. As part of this scheme, dismissed employees will be supported by an adviser until being re-employed, and they will receive financial support to maintain their former salary level up to one year.
Mory Ducros had emerged from Mory Team and Ducros Express in late 2012. The ERM reported on a restructuring at Ducros Express in early 2011, to lead to the cut of about 450 jobs.
Eurofound (2014), Mory Ducros, Merger/Acquisition in France, factsheet number 76579, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76579.