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 commercial subsidiary of Sanofi has announced it will cut about 200 positions by 2016 in the framework of a voluntary departure plan (about 10% of the total workforce). The job cuts will mainly affect medical sales representatives. The Works council was informed on 7 October and a negotiation has started just in order to reach an agreement with unions. Management explains there will be no forced dismissals and no forced mobility transfers. About 140 employees could leave the company by age related measures open to those aged 56 or more; they would leave the company and receive allowances approaching last salary level until retirement. Other employees would receive a higher dismissal allowance as incentive to leave the company. According the union CGT, it is the fourth social plan since 2005. At that time, the workforce comprised 5,000 employees. According to AFP press agency, the group Sanofi will create in the same period 50 new positions, so that the net effect of the restructuring will be 150 job losses.
Eurofound (2014), Sanofi France, Internal restructuring in France, factsheet number 78037, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78037.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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