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 aeronautical equipment manufacturer Safran has been hit hard by the crisis in the aviation sector linked to COVID-19 and has announced job cuts across the world. The group announced 3,000 job cuts in Mexico in May 2020. It cuts 250 temporary staff positions in France and announced job cuts in Europe at a European works council meeting on 2 June. According to the EWC secretary, between 200 and 300 jobs would be cut in Poland, and at least 62 job cuts were announced in the UK, where further job cuts are expected. Employment in France is still being preserved with massive recourse to short-time working.
As the company's strategy is to focus on the national level, announcements will be made as workforce adjustment plans are developed in each country.
In 2016, the group has announced 5,500 recruitments worldwide.
Eurofound (2020), Safran, Internal restructuring in World, factsheet number 100811, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100811.