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.
Alstom 2023 - FRRail equipment manufacturer Alstom has announced the layoff of about 200 jobs positions in France. The job reductions are part of a worldwide restructuring plan which involves the elimination of 1,500 jobs in support services (10% of the workforce in these services).
The company is undergoing a significant cash flow crisis and is in urgent need of reassuring the investors. Specifically, the company is struggling with fulfilling the contract obligations inherited with the acquisition of Bombardier in 2021. Job cuts will be made through voluntary redundancies, which should avoid outright redundancies. Further details will be provided at a European Works Council meeting on 14 December, before the launch of information and consultation procedures at the national level. We are counting on three months of consultation before the first effects on employment, i.e. from 15 March 2024.
The latest restructuring recorded in the ERM was a business expansion in 2023, with the creation of 150 jobs, in the branch Alstom transport: Alstom 2023 - FR.
UPDATE 15/02/2024: It is announced that Alstom is to expand its restructuring programme. The layoffs will affect 298 jobs, instead of 200 previously announced.
Eurofound (2023), Alstom, Internal restructuring in France, factsheet number 200523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200523.