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.
Exterion Media France (formerly Giraudy) has announced an employment safeguard plan (PSE) with 99 job cuts out of the 300 that the company has. Exterion was taken over three months ago by Samfi-Invest. The workforce reduction should concern both the head office at Issy-les-Moulineaux (Haut-de-Seine), where 100 people work, and the group's regional agencies, some of which could be closed, such as the one in Nancy (12 employees). Like all its competitors, the billboard company has been hit hard by the consequences of the COVID-19 health crisis. It resulted in a total halt in activity during the first confinement and the desertification of public space. Due to cash flow difficulties and the reluctance of advertisers, business has only slowly picked up since then. According to the CFDT trade union representative, while the crisis has accelerated the decision, the change in the advertising policy for environmental reason in the city was also a factor.
Eurofound (2021), Exterion Media France, Internal restructuring in France, factsheet number 103653, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103653.