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.
Covance Laboratories, the R&D centre in Porcheville which belongs to the US pharmaceutical group Covance, has announced its closure leading the dismissal of 128 employees. In April 2015, the management announced it was looking for a new owner. According to Covance, the management has contacted 114 companies but it received no offer. In September, Covance started the information and consultation process for the purpose of closing the site. In January 2016, the management negotiated a social plan which was agreed to by the Labour inspectorate so that it could send the first dismissal letters by mid-January. In the letter, Covance explains to the employee they could ask for a reemployment leave ("congé de reclassement") of up to 12 months to enable the employee to benefit from training and the services offered by an external consulting body when searching for new employment. This reemployment leave is to be taken during the notice period and employees continue to receive remuneration.
The site previously belonged to the French pharmaceutical group Sanofi which sold it five years ago to Covance. It should be noted that when Covance bought the site, it committed to maintain the employment levels for five years, and Sanofi committed to financially support its former plant. This agreement came to an end on 31 October 2015.
Eurofound (2016), Covance Laboratory, Closure in France, factsheet number 86203, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86203.