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.
MAN Energy Solutions France has announced a restructuring to cope wit the COVID-19 crisis for its French site at Saint-Nazaire. The management announced to cut about 60 to 80 positions on a total workforce of 600 employees (10% to 15% of the workforce). The reorganisation is part of a world wide cost saving plan to ensure the future viability of the company. Measures to be taken includes cutting 3,950 jobs worldwide from its current total of 14,900 employees. The executive board expects that the implementation of the program will result in the elimination of up to 3,000 positions in Germany and 950 in other countries including 60 to 80 posiitons in France. The global management streeses that the reduction in the workforce will be carried out in a socially responsible manner as far as possible, although compulsory redundancies cannot be completely ruled out.
Eurofound (2020), MAN Energy Solutions France, Internal restructuring in France, factsheet number 101282, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101282.