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 Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture Of Furniture
No information on job gains number available
Announcement Date
11 July 2016
Employment effect (start)
1 January 2014
Foreseen end date
1 December 2016
Description
Fly is a French company that creates furniture for the European market. The company suffered a huge crisis in 2014. More than 1000 employees lost their job in that occasion. In order to come back to a rentable position, the company decided to backshore all production to Europe. According to the CFO Nicolas Fink, the lower value of the Euro has helped reducing the gap in the production costs. The declared aim for the backshoring is to give more power to European designers in order to differenciate products with respect to competitors (expecially Ikea). The company had to reduce profit margins in order to gain market shares.
Eurofound (2016), Fly, Reshoring in France, factsheet number 170, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/170.
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