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 management of Baker Hugues has announced a reorganisation of its Condé-sur-Noireau (Calvados) site, specialising in the manufacture of control valves for hydrocarbons, with 58 job cuts out of a total workforce of 333 employees. The first departures could take place in March 2021. Negotiations with employee representatives will continue until December to limit the number of job cuts.
According to the company, the current difficulties in the oil market, as well as the COVID-19 crisis, are the reasons behind the restructuring. Some activities will be offshored to India, and the company is increasingly relying on subcontractors.
Employee representatives believe that the economic situation of the company leading to the redundancy plan is the result of several years of poor management. Since 2015, the factory has been considered a pilot unit for complex projects, which has allowed the company to offshore part of the production to India. According to the CFDT union delegate, when the plant was acquired, the new management and management methods negatively affected the site.
Eurofound (2020), Baker Hugues, Internal restructuring in France, factsheet number 102076, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102076.