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.
Following the takeover of Alstom and a large-scale restructuring with 6,500 job cuts worldwide (see ERM Factsheet), General Electric intends to cut 765 positions in France (although GE are on track to create another 1000 jobs in France in their place). The job cuts will take place in GE's gas and steam power business activities, which have been declining in recent years. They represent about 10% of the employees from the former Alstom Energie activities in France. About two-third of the job cuts are expected in 2016 and the remaining third for 2017. 200 positions will be cut in the support functions while the main job cuts will focus on industrial positions. Information and consultation process have started in each plant as negotiations with unions on the social plan. It is expected that these negotiation end in May. Then a period for voluntary departures would be opened from June to October. In total, GE will create 235 positions net in the next three years, taking into account the 765 job cuts announced and the 1,000 job creations.
Eurofound (2016), General Electric, Merger/Acquisition in France, factsheet number 86229, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86229.