Type
Internal restructuring
Country
France
Region
Location of affected unit(s)
Sector
Real Estate
Real Estate Activities
Real Estate Activities
68 - Real Estate Activities

150 jobs
Number of planned job losses
Job loss
Announcement Date
25 June 2024
Employment effect (start)
25 June 2024
Foreseen end date

Description

Vinci Immobilier, the real estate subsidiary of the Vinci Group, is cutting 150 jobs, representing nearly 20% of its workforce. The decline in demand for new construction has led to a crisis in the sector. Several other companies have announced internal restructuring plans such as Nexity Nexity 2024 - FR and Bouygues Immobiliere Bouygues Immobilier 2024 - FR. The crisis is caused by an increase in production costs due to an increase in materials costs and stringening environmental requirements.

Before the restructuring, the Vinci Immobilier workforce totaled 800 employees.


Sources

Citation

Eurofound (2024), Vinci Immobilier, Internal restructuring in France, factsheet number 202297, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202297.