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 American General Electric's energy branch, GE Vernova, has announced a worldwide reorganisation leading to the loss of 900 jobs, including 360 jobs in France, in particular at the Montoir-de-Bretagne site (Loire-Atlantique) where 140 jobs will be lost. Management is citing the fact that the order book at the Montoir-de-Bretagne plant, which was launched in 2013 by Alstom as part of the development of the offshore wind industry, will run out after 2027, despite ongoing projects in the United Kingdom and the United States. Last March, GE had already confirmed ‘adjustments’ to the workforce of its subcontractors at Montoir-de-Bretagne.
The first voluntary departures could take place as early as February 2025, followed by compulsory redundancies towards the end of May 2025.
In 2023, GE Vernova had 75,000 employees worldwide and 7,500 in France. The global restructuring programme of GE Vernova can be found here GE Vernova-2024-WO.
Eurofound (2024), GE Vernova, Internal restructuring in France, factsheet number 201625, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201625.