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.
Solystic, a company specialised in mail sorting, plans to cut 43 jobs at its Alixan site (Drôme) and 16 at its Bagneux (Hauts-de-Seine) headquarters. Management and the unions have started negotiations on an employment safeguard plan (PSE). In addition, 26 jobs from the Bagneux headquarters would be transferred to the Alixan site near the Valence TGV station. In total, from 59 up to 85 job cuts would take place if all 26 employees refuse their transfer. Therefore, over 10% of the workforce will be dismissed. The management explains that it has to face the drastic drop in mail activity which has fallen by 40% in ten years. It intends to make up for its delay in parcel sorting. The HR director stresses that customers have cancelled their contracts. Orders are forecasted to fall by more than 50% again this year at Solystic.
Eurofound (2020), Solystic, Internal restructuring in France, factsheet number 101792, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101792.