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 online press group Webedia, which owns about fifty Internet sites, has announced a worldwide reorganisation that will lead to cut about 230 to 240 positions. The main job cuts are expected in France where the management has begun negotiations with its employees in order to cut between 80 and 90 positions out of a total of about 600 employees (that is between 10% and 15% of the workforce). The group, which employs 3,700 employees worlwide, has also announced 150 job cuts in Brazil, Spain, Germany, and the United States. Management has explained that it is facing a significant decline in revenues in recent months (-28% in April, -39% in May) due to the Covid-19 crisis.
Eurofound (2020), Webedia, Internal restructuring in World, factsheet number 101106, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101106.