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.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency, Tour Operator And Other Reservation Service And Related Activities 79 - Travel agency, tour operator and other reservation service and related activities
101 jobs Number of planned job losses
Announcement Date
26 June 2009
Employment effect (start)
2 November 2009
Foreseen end date
30 June 2010
Description
Club Med World, a company in the leisure and tourism sector, has announced that the group has decided to close Club Med World Paris to the Works Councils of Club Méditerranée SA and Club Med World France, which will lead to the loss of 101 jobs. A range of measures would be introduced to reduce the impact on the employees concerned and support outplacement initiatives.
Since 2003, Club Méditerranée has helped Club Med World to deploy a wide range of measures intended to reverse the revenue decline and restore profitability. Despite these efforts, the Club Med World "urban leisure" concept continues to show a loss. Moreover, it does not fit with the Group's strategic refocusing on its Villages business, which has seen a considerable improvement in operating margins over the past two years.
As for the Paris site, whose lease expires on 30 June 2010, no business model has been found to stem the losses, which total nearly EUR 40 million since its opening. Created in 2000 as part of a diversification strategy, the Club Med World concept was to be rolled out to the capitals of several countries. In 2003, the Club Med World in Montreal had to be closed because of substantial losses.
Eurofound (2009), Club Med World, Closure in France, factsheet number 69166, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69166.
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.
