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 Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.20 - Manufacture Of Railway Locomotives And Rolling Stock
1,500 jobs Number of planned job losses
Announcement Date
14 November 2023
Employment effect (start)
14 March 2024
Foreseen end date
Description
Rail equipment manufacturer Alstom has announced a global restructuring programme, affecting locations in France, Germany, and the United Kingdom. The worldwide restructuring plan involves the elimination of 1,500 jobs in support services (10% of the workforce in these services). 1,300 jobs are to be cut in Derby, the United Kingdom, and 200 positions will be cut in France. For Germany, no specific number of jobs to be cut is available as of now.
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.
Further details will be provided at a European Works Council meeting on 14 December, prior to the launch of information and consultation procedures at national level.
The restructuring event in France has been recorded in the ERM events database Alstom-2023-FR.
Update 14/February/2024
It has been announced that Alstom completed negotiations with employee representatives in France. As a result, the company will cut its employment by 298 positions in the country instead of the initial 200 positions announced.
Eurofound (2023), Alstom, Internal restructuring in World, factsheet number 200538, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200538.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
