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 SNCF railway group plans to cut 200 jobs as part of a savings plan for its rail freight activities. The job cuts are planned for the end of the year or the beginning of 2020 an they will affect railway workers in the support functions.
According to employees' representatives, the management has indicated its willingness to separate from unprofitable routes, and its ambition to achieve additional savings on structural costs. At the works council meeting, management also announced that revenue was down 6% on forecasts, and that the operating margin was more than €10 million below the same forecast, despite the savings made on energy, tolls and personnel costs.
In 2018, a former reorganisation took place envisaging 700 job cuts by 2021. The new announcement of 200 jobs cut is in addition to this previous workforce reduction.
Eurofound (2019), Fret SNCF, Internal restructuring in France, factsheet number 98892, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98892.