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 group Suez, specialised in water and waste management, has announced about 600 jobs cut in its support functions out of a total of 3,700 workers employed in support. The job cuts will take place in the framework of a voluntary dismissals plan without forced dismissals. The group, which employs 33,000 employees in France, has signed a group-level agreement with the representative trade unions CGT, CFDT and FO. According to the agreement, all subsidiaries will start negotiation to set up their own voluntary dismissal plan within the next six months. The group-level agreement contains incentive measures to leave the company through early retirement schemes or reemployment leave with a length from 9 to 12 months depending on the age, with supplementary allowances (over the minimum legal amount). For an employee with over 30 years of seniority, the minimum allowance is 24 months of salary or, at least, €50,000. The aim of the reorganisation is to increase the competitiveness of the group even if its profit for the first six months of 2016 has jumped to 23.7% in comparison to the same period of 2015. Its competitor, Veolia has announced a restructuring in June 2016 to cut about 430 positions.
Eurofound (2016), Suez, Internal restructuring in France, factsheet number 88950, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88950.
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