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 French oil and gas group CGG plans to cut 94 jobs out of 364 at its Massy (Essonne) site, notably through voluntary departures, in a context of falling crude oil prices with the COVID-19 pandemic. A trade unionist is worried about the long-term survival of the site. Specialising in subsoil ultrasound for oil and gas companies, CGG employs around 4,000 people worldwide. The Massy site, both the company's head office and an imaging centre, is the only one concerned by this restructuring. The job cuts will be in the geosciences activity, in particular in research and development, image processing and support functions.
Eurofound (2020), CGG, Internal restructuring in France, factsheet number 101874, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101874.