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 the Westin Paris Vendôme hotel (Paris I) has announced 167 job cuts, including all the 81 positions in its room service, which will disappear. The hotel belongs to the Marriott Group. Like many hotels, the Westin is devastated by the consequences of the COVID-19 crisis.
For the trade union CGT this unprecedented wave of redundancies is not justifibale. They observe that the salaries of the personnel, 40% of which are at the minimum wage (SMIC), are covered by the State. They also added that the hotel groups have made huge profits for years, and they have the necessary strength and aid to withstand the crisis, all the more so as the recovery is assured in the long term. The General Delegate Paris - Ile-de-France of the employers' organisation Groupement national des indépendants (GNI) de l'hôtellerie-restauration said that the activity is in a total standstill: 'There are no more foreigners, no more business. Apart from a few airline crews, the clients have totally deserted. The rooms are empty.'
Eurofound (2021), The Westin Paris , Internal restructuring in France, factsheet number 103006, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103006.