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.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Publishing Activities 58.29 - Other software publishing
190 jobs Number of planned job losses
Announcement Date
20 June 2017
Employment effect (start)
1 October 2017
Foreseen end date
31 December 2017
Description
Cisco Video Technologies France, a subsidiary of Cisco Systems, has announced the closure of its activity in Issy-les-Moulineaux (Haut-de-Seine) to its 190 employees. Absorbed in 2013 by Cisco Systems, the company has seen its workforce decreasing from about 500 to 190 due to several downsizing plans. In 2015, the company had 457 employees with a turnover of €109 million and a profit of €12.7 million. According to a union delegate from Cisco Video Technologies France, "if the group is pursuing developments around Cloud solutions today, the priority is now to cut the operating costs of the business, which leads the firm to sacrifice the French subsidiary ". The implementation of a new social plan should take place at the end of the year.
Sources
20 June 2017: www.silicon.fr
Citation
Eurofound (2017), Cisco Video Technologies France, Closure in France, factsheet number 91334, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91334.
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