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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.30 - Manufacture of air and spacecraft and related machinery
475 jobs Number of planned job losses
Announcement Date
25 September 2020
Employment effect (start)
1 January 2021
Foreseen end date
Description
Faced with a drop in business of more than 40% since the beginning of the year, the aeronautical equipment manufacturer Latécoère announced a restructuring plan that would result in 475 job cuts in France, out of 1,504. That is to say approximately 30 % of its workforce in France. However, none of its nine sites in France will be closed. Management promises to use all possible means to reduce the number of job cuts as far as possible.
The distribution of job cuts envisaged between the different sites is not yet known. Negotiations with employee representatives, which will begin at the end of September/beginning of October, are expected to take several months. The only details at this stage are that the employment safeguard plan (PSE) presented provides for 345 job cuts out of 827 in the aerostructure sector, and 130 job cuts out of 677 in the interconnection-cables sector, according to the CFE-CGC union, which considers these figures to be 'disproportionate'. In addition, the Labège site, near Toulouse, will retain only an administrative activity. A long-term short-time working scheme ('activité partielle de longue durée - APLD') will also be submitted to the unions.
Eurofound (2020), Latecoere, Internal restructuring in France, factsheet number 101897, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101897.
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