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.
NextRadioTV, the parent company of several audiovisual media including the continuous news channel BFM TV and RMC, has announced a reorganisation aimed at cut between 330 and 380 permanent positions out of a total of just over 1,300. The group also employs 200 employees on fixed-term contracts, some of which will not be renewed. It also employs casual entertainment workers and freelancers, whose numbers are expected to be cut by 50%. According to the unions, 200 of them would be threatened by these job cuts.
Altice, the parent company of NextRadioTV, was the first French media group to announce a restructuring plan since the shutdown on 19 May. The effects of COVID-19 have been very hard on the whole sector, particularly because of the sharp fall in advertising. The redundancy plan would begin with a voluntary phase; forced redundancies would only take place if there are not enough volunteers.
Eurofound (2020), NextRadioTV, Internal restructuring in France, factsheet number 100957, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100957.