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 Swedish industrial equipment manufacturer SKF has just announced the 123 job cuts out on a total workforce of 347 employees in its site at Lons-le-Saunier (Jura). This site is suffering from the fall in global aeronautics activity linked to the COVID-19. The management also announced the creation of 13 new jobs at the site. The information-consultation procedure with the employees' representative bodies began on 22 September and is due to end on 22 December 2020, the date on which the first job cuts will take place. According to a CGT trade unionist, the employees were expecting bad news, because 'since the COVID-19 crisis, there has been a 40% fall in activity in turnover'.
The main customers of the Lons-le-Saunier site are Airbus, Safran and Dassault. Clients whose economic health has been completely disrupted since the stop of flight traffic around the world. In France, the international SKF group employs more than 3,000 people at several sites, including 347 in Lons-le-Saunier.
Two previsious restructuring were recorded in the ERM Database, in 2003 with 206 job cuts and 2007 with 520 job cuts.
Eurofound (2020), SKF Aeroengine, Internal restructuring in France, factsheet number 101884, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101884.