Barre Thomas

Type
Internal restructuring
Country
France
Region
Bretagne; Bretagne; Ille-et-Vilaine
Location of affected unit(s)
Rennes
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
248 jobs
Number of planned job losses
Job loss
Announcement Date
28 November 2008
Employment effect (start)
1 January 2009
Foreseen end date
31 July 2009

Description

SPBT Barre Thomas, manufacturer of motor equipment and supplier to PSA Peugeot Citroen in Rennes is laying off 248 people. The company was bought out by Silver Point, a private American company with hedge fund interests, in 2006. At the time the company employed 1650 people. A condition of the buyout was that the new owners would not reduce the workforce below 1250 people before July 2009. With a current workforce of 1300 and announced redundancies of 248 it appears unlikely that the company will be able to abide by the condition.  

Sources

Citation

Eurofound (2008), Barre Thomas, Internal restructuring in France, factsheet number 68367, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68367.