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.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Beverages 11.01 - Distilling, rectifying and blending of spirits
190 - 280 jobs Number of planned job losses
90 jobs Number of planned job creations
Announcement Date
1 October 2019
Employment effect (start)
1 December 2019
Foreseen end date
30 June 2020
Description
Pernod Ricard, the world's second-largest spirits company, wants to boost pastis sales in France by merging its two subsidiaries: Pernod and Ricard, which will result in internal restructuring and in reduction of 280 current job positions and creation of 90 new jobs. In total, 190 jobs will be lost by mid 2020. The group is facing a €60 million drop in revenues for the last two years in the pastis sells due to changes in consumer expectations towards more organic, artisanal and high-end products. The merger will bring together the sales teams of the two previously competing subsidiaries. Thus, a single Pernod Ricard France company will be set up as from 1 July 2020.
A restructuring in France has already been recorded in 2014 with 165 job losses on a total workforce of 1,800, in the framework of a global restructuring affecting 900 positions.
Eurofound (2019), Pernod Ricard, Internal restructuring in France, factsheet number 98778, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98778.
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