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.
French media group, Express-Roularta, has launched a restructuring plan that will lead to a reduction in the workforce of 115 positions. The company was taken over by Altice media group in June. Express-Roularta (publisher of the news magazine L’Express, L’Expansion, Lire, Classica...), employs about 600 people, including 300 journalists.
The French legislation allows for the dismissal of journalists who refuse to work for a new owner (“clause de cession”). In this particular case, the journalists will receive one-month dismissal allowance per year of seniority. The new owner has proposed an additional one-month allowance for journalists over 47 years old who decide to leave. The new owner has also indicated it will denounce all collective agreements in order to to reduce costs and employee benefits. As of 1st July, about 90 employees have decided to leave the company (including 60 journalists), about 15% of the workforce and new voluntary departures are expected in the coming months.
Update 27/09/2015: According to the daily La Croix about 115 employees have decided to leave the company in the framework of the voluntary departure plan.
Update 02/10/2015: The new owner of Group L'Express, Alice Media, has announced a social plan to cut approximately 125 positions a few months after it opened a voluntary departure plan which led to 115 departures. The job cuts affect about 40 journalists and 85 other employees. About 20 positions will be cut at the main news magazine L'Express. Two periodicals will be closed (Maison française and Décoration Internationale). The Association of Journalists of Group L'Express (Société des journalistes de l'Express) sent a letter to the new owner to denounce these job cuts. About 60 employees have organised a demonstration against the plans at the front of headquarters of the group in Paris on 2 October. The management sent a letter to all employees informing them it has to take this decision as the financial situation for the group is weaker than expected. The information and consultation process has started on 2 October and the first departures are not expected before January 2016.
Eurofound (2015), L'Express-Roularta, Merger/Acquisition in France, factsheet number 84309, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84309.
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